21Shares Files for Solana ETF

[TomPluz]

Get more details on this Solana development here.

21Shares, a crypto-native exchange-traded products issuer, has filed an S-1 registration statement with the US Securities and Exchange Commission (SEC) on Friday for a spot Solana ETF.

The 21Shares Core Solana ETF, if approved, would offer investors exposure to Solana, the fifth-largest cryptocurrency by market cap. The fund would track the price of SOL and trade on the Cboe BZX Exchange.

However, the path to approval for both Solana ETFs appears uncertain. The SEC has previously hinted that SOL might be classified as a security, a designation that would impose stricter regulations.

Despite these challenges, some crypto proponents believe a potential shift in US leadership could pave the way for SOL ETF approval. Speculation surrounding a Donald Trump presidential win has some hoping for a more crypto-friendly regulatory environment.

After the approval of Bitcoin and Ethereum spot ETF by SEC, it was rumored that the next move will be focused on Solana. But then again, right from the onset, I think there is the douse of reality that the road for its approval can be quite tedious compared to that of Bitcoin and Ethereum. So they are looking for its big chance once there can be change of White House administration and there can be changes in SEC.

Do you think that eventually spot Solana ETF will be approved by SEC or will this be indefinitely shelved and will be reopened only at the appropriate time?