Haider Jamal

Jul 10, 2024

CBOE SEC Filing Confirms Solana ETF Plan

Following previous unsuccessful attempts at introducing Solana (SOL) exchange-traded funds (ETFs), new efforts are underway to list the highly traded cryptocurrency. According to CoinGecko, SOL ranks as the most popular blockchain ecosystem this year, closely followed by Ethereum (ETH).


Now We Wait

Chicago Board Options Exchange (CBOE) Global Markets, an exchange operator, has submitted a request to the U.S. Securities and Exchange Commission (SEC) for ETFs linked to Solana. Specifically, products by asset managers VanEck and 21Shares are involved. This initiates the process for the Commission to either approve or deny the 19b-4 application. Under SEC rules, the Commission has 240 days to decide on such applications.

Rob Marrocco, Global Head of ETP listings at CBOE Global Markets, recently stated they are addressing the growing investor interest in SOL, one of the most actively traded cryptocurrencies alongside Bitcoin and Ethereum. This follows a successful listing by CBOE of the first U.S. Spot Bitcoin ETFs and SEC approval for rule filings to list spot Ether ETFs.


Not Just Solana

VanEck filed the S-1 form with the SEC for SOL in June, followed by 21Shares the next day. The S-1 form is necessary for offering a new security on the market. Additionally, self-regulatory organizations use the 19b-4 form to notify the SEC of rule changes, requiring justification before approval.

It is noteworthy that CBOE is not focusing solely on SOL, as their 19b-4 filings for Ethereum were approved by the SEC in May 2024, with ETH ETF trading set to commence pending final approval in a two-stage process. Experts anticipate significant liquidity for SOL if the ETF is approved, projecting around $3 billion in inflows over time, with a substantial portion potentially through ETFSwap.


Top News

Read more latest news

Press Releases

Do Kwon Trial Begins Despite The Founder

3 months ago Mar 26, 2024

The civil fraud trial involving Ter... Read more

Goldman Sachs Clients Look To Get Back

4 months ago Mar 25, 2024

Institutional clients served by the... Read more

New Payment Limit For Crypto Wallets Scrapped

4 months ago Mar 25, 2024

The recent Anti-Money Laundering re... Read more

Bitcoin Undergoes Price Correction As International Economies

4 months ago Mar 24, 2024

A significant portion of the crypto... Read more

Join Our Newsletter

Get the latest trends and updates on our crypto community.