The CBOE BZX exchange has filed four 19b-4 applications against asset management companies Bitwise, VanEck, 21Shares, and Canary Capital for spot listing of the Solana Exchange Traded Fund (ETF). This is the same day that the head of the Securities and Exchange Commission confirmed that he will resign in January.
If approved, For each bit, Van Eck 21 stocks and canary The Spot Solana (SOL) ETF issued by Capital will be listed on the BZX exchange of the Chicago Board Options Exchange (CBOE) in the United States.
Excerpt from VanEck's SEC Filing 19b-4. Source: CBOE
19b-4 notifies the SEC of proposed rule changes by financial regulators and self-regulatory bodies, such as stock exchanges.
This differs from the S-1 registration statement that VanEck and 21Shares already filed for the Solana ETF in late June, and that Canary Capital filed four months later on October 30.
Meanwhile, Bitwise indicated on November 20 that it would register a statutory trust for the Spot Solana ETF in Delaware and list its name for regulatory approval. An asset management company focused on cryptocurrencies. submitted This is S-1 on November 21st.
Coincidentally or not, this filing came just as anti-crypto nemesis Gary Gensler announced he would resign as SEC chairman on the day of President Donald Trump's inauguration.
Gensler was scheduled to serve as SEC chairman until 2026.
His voluntary resignation means President-elect Trump has one less promise to fulfill after he told the cryptocurrency industry he would fire Gensler on “day one.”
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Many industry experts expect the regulatory environment for cryptocurrencies to become more friendly, which could result in more crypto ETF filings like those seen on November 21st.
New SEC leadership and regulatory clarity could throw Solana's potential security status out the window. A 21Shares spokesperson told Cointelegraph:
“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 is itself a security. This is consistent with numerous court decisions we have cited in our filings.”
Asset management companies have also submitted applications for Spot XRP (XRP) and Litecoin (LTC) ETFs. Franklin Templeton applied for a crypto index ETF, but the SEC delayed its decision until early January 2025.
Many industry analysts predict that approved inflows to the Spot Solana ETF may be lower than those seen in the Bitcoin (BTC) and Ether (ETH) ETFs.
That said, Solana has been one of the top performers in this bullish cycle, rising over 2,500% to $254.71, CoinGecko data indicates.
It is currently down 1.2% from its all-time high of $259.96 in November 2021.
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