VanEck, 21Shares Solana ETF Plan Confirmed in Cboe Filing

The
Chicago
Board
Options
Exchange
(Cboe)
has
officially
asked
the
SEC
to
let
asset
managers

VanEck
and

21Shares
bring
a
Solana-based
exchange-traded
fund
(ETF)
to
the
market.

The
exchange
submitted
a
pair
of
19b-4
filings
with
the
Securities
and
Exchanges
Commission
(SEC)
on
Monday,
asking
to
list
these
products
if
and
when
approved
by
the
regulator.
Once
the
SEC
acknowledges
receipt
of
the
filing,
a
window
of
240
days
opens
in
which
the
regulator
is
forced
to
make
a
decision
on
the
products,
which
would
be
underpinned
by

(SOL).

“After
successfully
listing
the
first
U.S.
spot
Bitcoin
ETFs
on
our
exchange
and
securing
SEC
approval
for
our
rule
filings
to
list
spot
Ether
ETFs,
we
are
now
addressing
the
increasing
investor
interest
in
Solana
–
the
third
most
actively
traded
cryptocurrency
after
Bitcoin
and
Ether,”
Rob
Marrocco,
global
head
of
ETP
listings
at
Cboe
Global
Markets,
said
in
a
statement.

Cboe
already
lists
six
of
the
10
existing
spot
bitcoin
ETFs,
including
products
issued
by
Fidelity,
Ark/21Shares
and
VanEck.
It
would
also
be
the
listing
exchange
of
five
spot
ether
ETFs
if
and
when
those
are
approved.

Industry
analysts
expect
the
SEC
to
sign
off
on
ether
ETFs
as
soon
as
this
week,
with
many
issuers
filing
amended
S-1
forms
across
Friday
and
earlier
Monday.
There
may
still
be
another
round
of
amended
filings,
as
the
most
recent
submissions
don’t
contain
any
fee
info.

Both

VanEck
and

21Shares
filed
one
of
the
necessary
filings
to
list
an
ETF,
the
S-1,
which
is
required
when
an
entity
is
looking
to
offer
a
new
security
on
the
market,
in
June.
The
submission
of
a
19b-4
is
the
second
necessary
step
in
the
process
because
it
informs
the
SEC
of
a
proposed
rule
change
by
a
self-regulatory
organization
(SRO)
such
as
an
exchange.