Canary

Solana

Cboe BZX Exchange submitted four 19b-4 filings for asset managers to list spot Solana exchange-traded funds (ETFs) on Nov. 21— the same day the United States Securities and Exchange Commission chief confirmed <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-chair-gary-gensler-step-down" rel="null" target="null" text="null" title="null">he would resign</a> in January.&nbsp;
If approved, the <a data-ct-non-breakable="null" href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CboeBZX-2024-119.pdf" rel="null" target="null" text="null" title="null">Bitwise,</a> <a data-ct-non-breakable="null" href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CboeBZX-2024-117.pdf" rel="null" target="null" text="null" title="null">VanEck,</a> <a data-ct-non-breakable="null" href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CboeBZX-2024-116.pdf" rel="null" target="null" text="null" title="null">21Shares</a> and <a data-ct-non-breakable="null" href="https://cdn.cboe.com/resources/regulation/rule_filings/pending/2024/SR-CboeBZX-2024-120.pdf" rel="null" target="null" text="null" title="null">Canary</a> Capital-issued spot Solana (<a data-ct-non-breakable="null" href="https://cointelegraph.com/solana-price-index" rel="null" target="null" text="null" title="null">SOL</a>) ETFs will be listed on the Chicago Board Options Exchange’s BZX Exchange. 
<figure>
 <img alt="SEC, Solana, Gary Gensler, ETF" src="https://s3.cointelegraph.com/uploads/2024-11/01935185-a302-7d0a-ab04-b3f4dab3de2e" title="">
 <figcaption style="text-align: center;">
 Extract from VanEck’s 19b-4 filing to the SEC. Source: CBOE
 </figcaption>
</figure>
The 19b-4s inform the SEC of a proposed rule change by a self-regulatory organization such as a financial regulatory body or stock exchange.
They differ from S-1 registration statements, which <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/21shares-spot-solana-etf-sec" rel="null" target="null" text="null" title="null">VanEck and 21Shares</a> already submitted for their Solana ETFs in late June and <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/canary-capital-files-spot-solana-etf" rel="null" target="null" text="null" title="null">Canary Capital filed</a> four months later, on Oct. 30.
Meanwhile, <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/bitwise-registers-solana-etf-delaware" rel="null" target="null" text="null" title="null">Bitwise registered a statutory trust</a> in Delaware for a spot Solana ETF on Nov. 20, indicating that it would put its name in the ring for regulatory approval. The crypto-focused asset manager then <a data-ct-non-breakable="null" href="https://www.sec.gov/Archives/edgar/data/2045872/000121390024101076/ea0222031-s1_bitwise.htm" rel="null" target="null" text="null" title="null">filed</a> its S-1 on Nov. 21.
The filings came — coincidentally or not — as anti-crypto SEC Chair Gary Gensler announced he would resign on the day of Donald Trump’s presidential inauguration.&nbsp;
Gensler was supposed to serve until 2026.
His voluntary resignation means one less promise Trump will need to fulfill after the president-elect told the crypto industry that he would fire Gensler on “Day 1.”
Related: <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sui-down-no-blocks-produced-1-hour" rel="null" target="null" text="null" title="null">Sui Network restored after 2-hour outage in setback for ‘Solana killer’</a>
Many industry pundits expect a friendlier crypto regulatory environment, which could result in more crypto ETF filings like those seen on Nov. 21.
A new SEC leadership and more regulatory clarity could see <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-could-still-think-solana-other-tokens-are-securities" rel="null" target="null" text="null" title="null">Solana’s potential security status</a> tossed out the window, a 21Shares spokesperson told Cointelegraph:
<blockquote>
 “We strongly believe that Solana’s native token, SOL, is eligible for inclusion in an ETF as a commodity. In fact, no court has found that SOL as a token itself is a security - which is consistent with numerous court decisions that we have cited in our filings.”
</blockquote>
Asset managers have also submitted filings for spot XRP (<a data-ct-non-breakable="null" href="https://cointelegraph.com/xrp-price-index" rel="null" target="null" text="null" title="null">XRP</a>) and Litecoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ltc-price-index" rel="null" target="null" text="null" title="null">LTC</a>) ETFs. Franklin Templeton filed for a crypto index ETF, though the SEC has <a data-ct-non-breakable="null" href="https://cointelegraph.com/news/sec-delays-franklin-templeton-crypto-index-etf-decision" rel="null" target="null" text="null" title="null">delayed a decision</a> on that until early January 2025.
Many industry analysts anticipate inflows into approved spot Solana ETFs<a data-ct-non-breakable="null" href="https://cointelegraph.com/news/solana-etfs-significant-demand-sygnum-research-head" rel="null" target="null" text="null" title="null"> may be small</a> relative to what’s been seen with the Bitcoin (<a data-ct-non-breakable="null" href="https://cointelegraph.com/bitcoin-price" rel="null" target="null" text="null" title="null">BTC</a>) and Ether (<a data-ct-non-breakable="null" href="https://cointelegraph.com/ethereum-price" rel="null" target="null" text="null" title="null">ETH</a>) ETFs.
That said, Solana has been one of the top performers this bull cycle, increasing more than 2,500% to $254.71, CoinGecko<a data-ct-non-breakable="null" href="https://www.coingecko.com/en/coins/solana" rel="null" target="null" text="null" title="null"> data</a> shows.
It is now 1.2% off its all-time high price of $259.96 set in November 2021.
Magazine: <a data-ct-non-breakable="null" href="https://cointelegraph.com/magazine/solana-printing-tokens-bots-subsidies/" rel="null" target="null" text="null" title="null">What Solana’s critics get right… and what they get wrong</a>

Solana ETF regulatory filings flood in as Gensler sets departure date

Cointelegraph

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