The Solana (SOL) price has surged 6.7% today in a sharp recovery as exchange operator Cboe Global Markets filed a request with the US SEC on Monday
The Solana (SOL) price surged today by 6.7% in a sharp recovery following exchange operator Cboe Global Markets filing a request with the US SEC on Monday, July 8, to list spot Solana ETFs.
The crypto industry seems to be actively gunning for exchange-traded funds (ETFs) tied to Solana, with the expectation of its launch by 2025.
Cboe Files 19b-4 for Spot Solana ETFFollowing a similar trajectory to that of spot Ethereum ETFs, Cboe has submitted the 19b-4 filings for the spot Solana ETF on behalf of 21Shares and VanEck. These are the first proposed Solana ETF products seeking approval in the market.
Last month in June, both 21Shares and VanEck applied with the SEC to launch the new products. However, for the products to go live from trading, the US SEC should also approve the S-1 filings in addition to the 19b-4 filings. Rob Marrocco, global head of ETP Listings at Cboe said:
“We are now addressing the increasing investor interest in Solana – one of the most actively traded cryptocurrency after Bitcoin and Ether”.
VanEck, 21Shares, and other issuers are awaiting final approval from the SEC to launch spot Ethereum ETFs. As per market expectations, the approval should come within the next two weeks.
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