Solana

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<ul>
 <li>Cboe files 19b-4 applications to list the first Solana ETF in the US, awaiting SEC’s 240-day review.</li>
 <li>VanEck and 21Shares aim to launch Solana ETFs, needing SEC approval of both 19b-4 and S-1 filings.</li>
 <li>Solana ETFs would join existing Bitcoin and potential Ethereum ETFs, expanding investor options.</li>
</ul>
<p>Exchange operator <a href="https://www.cboe.com/" rel="noopener noreferrer nofollow">Cboe Global Markets</a> has officially filed a request with the U.S. Securities and Exchange Commission (SEC) to list the first Solana-based exchange-traded fund (ETF) in the United States. This filing, submitted by Cboe on behalf of asset managers <a href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CboeBZX-2024-067.pdf" rel="noopener noreferrer nofollow">VanEck</a> and 21Shares, marks a step towards offering Solana ETFs to investors.</p>
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   <p lang="en" dir="ltr">We at <a href="https://twitter.com/vaneck_us?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@vaneck_us</a> are pleased to announce that <a href="https://twitter.com/CBOE?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@CBOE</a> just filed our 19b-4 to list and trade shares of the FIRST Solana exchange-traded fund in the US!<br><br>We look forward to engaging with the SEC during the review period.</p>— matthew sigel, recovering CFA (@matthew_sigel) <a href="https://twitter.com/matthew_sigel/status/1810408354528833819?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 8, 2024</a>
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<p><strong>Details of the Filing</strong></p>
<p>On Monday, Cboe filed two 19b-4 applications with the SEC. These applications are a part of the regulatory process for listing new ETFs. The SEC now has 240 days to review and decide on these filings. If approved, these ETFs would track the price of Solana, currently the fifth largest cryptocurrency by market cap.</p>
<p>In June, VanEck and <a href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CboeBZX-2024-066.pdf" rel="noopener noreferrer nofollow">21Shares</a> initially applied to the SEC to launch the new Solana ETFs. The SEC’s approval process for these products involves two key steps: the 19b-4 filing and the S-1 filing, which is an investor disclosure document. Both filings must be approved before the ETFs can start trading.</p>
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   <p lang="en" dir="ltr">Cboe files 19b-4s for both VanEck &amp; 21Shares Solana ETFs…<br><br>Once SEC acknowledges these filings, the decision clock starts ticking. <a href="https://t.co/JsRBLjudyT" rel="noopener noreferrer nofollow">https://t.co/JsRBLjudyT</a> <a href="https://t.co/94RLLEiwbU" rel="noopener noreferrer nofollow">pic.twitter.com/94RLLEiwbU</a></p>— Nate Geraci (@NateGeraci) <a href="https://twitter.com/NateGeraci/status/1810410517522944415?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 8, 2024</a>
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<p><strong>Significance of Solana ETFs</strong></p>
<p>Solana has become one of the most actively traded cryptocurrencies, following Bitcoin and Ether. Rob Marrocco, global head of ETP Listings at Cboe, emphasized the increasing investor interest in Solana. The <a href="https://cryptonewsland.com/21shares-files-for-spot-solana-etf-joining-vaneck-in-sol-investment-race/" rel="noopener noreferrer nofollow">approval of Solana ETFs</a> would represent a new wave of cryptocurrency ETFs, following the introduction of Bitcoin and potential Ethereum ETFs.</p>
<p>Earlier this year, the SEC approved the first U.S. spot Bitcoin ETFs, setting a precedent for future cryptocurrency ETFs. Cboe currently lists several spot Bitcoin ETFs and is awaiting approval for spot Ether ETFs, which analysts expect to be granted soon. If the Solana ETFs are approved, they would join these existing cryptocurrency investment products, offering more options for investors.</p>
<p><strong>Upcoming Ethereum ETFs</strong></p>
<p>VanEck and 21Shares are also awaiting SEC approval for their spot Ethereum ETFs speculated to <a href="https://cryptonewsland.com/vaneck-and-21shares-lead-spot-ethereum/" rel="noopener noreferrer nofollow">launch around July 15th</a>. The approval process for these ETFs has seen multiple filings and amendments, reflecting the rigorous regulatory requirements.</p>
<h4 class="wp-block-heading" id="h-read-also">Read also</h4>
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 <li><a href="https://cryptonewsland.com/ark-invest-and-21shares-part-way-on-the-ethereum-etf-project/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares Part Way on the Ethereum ETF Project</a></li>
 <li><a href="https://cryptonewsland.com/21shares-files-for-spot-solana-etf-joining-vaneck-in-sol-investment-race/" rel="noopener noreferrer nofollow">21Shares Files for Spot Solana ETF, Joining VanEck in SOL Investment Race</a></li>
 <li><a href="https://cryptonewsland.com/solana-etf-could-come-next-from-blackrock-could-this-trigger-a-new-sol-ath/" rel="noopener noreferrer nofollow">Solana ETF Could Come Next From BlackRock, Could This Trigger a New SOL ATH?</a></li>
 <li><a href="https://cryptonewsland.com/ark-invest-and-21shares-remove-staking-from-spot-ether-etf-proposal/" rel="noopener noreferrer nofollow">ARK Invest and 21Shares Remove Staking from Spot Ether ETF Proposal</a></li>
 <li><a href="https://cryptonewsland.com/vaneck-and-21shares-lead-spot-ethereum/" rel="noopener noreferrer nofollow">VanEck and 21Shares Lead Spot Ethereum ETF Filings as Launch Nears</a></li>
</ul>
<p>The post <a href="https://cryptonewsland.com/cboe-seeks-sec-approval-for-first/" rel="noopener noreferrer nofollow">Cboe Seeks SEC Approval for First U.S. Solana ETF with VanEck and 21Shares</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Cboe Seeks SEC Approval for First U.S. Solana ETF with VanEck and 21Shares

Crypto News Land

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