Cboe BZX files again on behalf of firms for a spot Solana ETF in an attempt to get SEC’s sign-off
2025-01-29
Category: None

Cboe BZX Exchange Inc. filed a fresh set of filings for firms vying for a spot Solana exchange-traded fund.
The exchange on Tuesday posted 19b-4 filings for the Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF and the VanEck Solana Trust. A 19b-4 filing is a document filed by exchanges on behalf of issuers and once filed, and after acknowledgment from the U.S. Securities and Exchange Commission and when published on the Federal Register, starts the clock on the agency's approval process.
Applications for those were rejected last year. One potential issuer, who asked to remain anonymous said that "all of them were pulled at the request of the SEC," according to The Block's previous reporting.
Many have been hopeful that a SOL ETF could be approved in 2025 given that the Trump administration has taken a friendlier stance toward crypto. During the last administration under SEC Chair Gary Genser, the agency approved the listing of Bitcoin ETFs in January 2024 and, later that year, Ethereum ETFs.
One hurdle for a SOL ETF will be whether it is classified as a commodity or security and could be viewed differently by the agency when compared to Bitcoin and Ethereum.
Disclaimer: The Block is an independent media outlet that delivers news, research, and data. As of November 2023, Foresight Ventures is a majority investor of The Block. Foresight Ventures invests in other companies in the crypto space. Crypto exchange Bitget is an anchor LP for Foresight Ventures. The Block continues to operate independently to deliver objective, impactful, and timely information about the crypto industry. Here are our current financial disclosures.
© 2024 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.