Solana exchange-traded funds have been submitted for listing by the Chicago Board Options Exchange (Cboe) to the Securities and Exchange Commission (SEC). The SEC’s approval is currently pending for the largest US options exchange.
The Cboe has confirmed that VanEck and 21Shares, two asset managers, will list their SOL ETFs on the exchange, per Monday’s filings.
If approved, it will be the “first Solana exchange-traded fund in the US,” as described by Matthew Sigel, chief of digital assets at VanEck.
“We anticipate engaging with the SEC during the review period,” he commented.
The ‘VanEck Solana Trust‘ and ’21Shares Core Solana ETF products will generate comparable excitement to the spot Bitcoin ETFs approved by the SEC in January.
A 240-day review period will commence upon the SEC’s acknowledgment of the filings. The regulator must determine whether the products should be approved within the specified time frame.
In June, the S-1 was submitted to the SEC by both asset managers to introduce the new Solana products. The products’ certification would initiate the third wave of spot crypto ETFs.
Furthermore, VanEck, 21Shares, and numerous other entities are anticipating the regulator’s approval of spot Ether ETFs. Two individuals acquainted with the approval procedure for ETH ETFs, as reported by Reuters, indicated that these products would likely be operational within the next week.
Cboe Move Signals Strong Interest in Solana
Currently, Cboe is preparing for the prospective listing of a spot Ether ETF and hosting numerous spot Bitcoin ETFs. The exchange is presently adopting Solana, the third most traded cryptocurrency.
Rob Marrocco, the global director of ETP listings at Cboe, stated, “We are currently addressing the growing investor interest in Solana.”
Six-spot Bitcoin ETFs are listed on the options exchange out of the ten that the regulator has approved. This encompasses Bitcoin ETF products from VanEck, Ark/21Shares, and Fidelity.
