Cryptocurrencies

Cboe confirms plans for Solana ETFs: VanEck, 21Shares file


The Chicago Board Options Exchange (Cboe), the largest options exchange in the United States, has filed an application with the Securities and Exchange Commission (SEC) to list Solana exchange-traded funds (ETFs). The move follows earlier applications from asset managers VanEck and 21Shares to list their Solana products on the exchange.

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First Solana ETF in the US

According to Monday’s filings, Cboe has confirmed that VanEck and 21Shares are planning to list their Solana ETFs on the exchange. Matthew Sigel, head of digital assets at VanEck, described it as the “first Solana exchange-traded fund in the U.S.,” subject to SEC approval. He added: “We look forward to engaging with the SEC during the review period.”

Similarities with spot Bitcoin ETFs

The products, called the VanEck Solana Trust and 21Shares Core Solana ETF, are expected to generate similar interest as the spot Bitcoin ETFs approved by the SEC in January. If the SEC approves the applications, a 240-day review period will kick in, during which the regulator must make a decision on whether to approve the products.

Third wave of spot crypto ETFs

Both VanEck and 21Shares filed an S-1 form with the SEC in June to launch the new Solana products. The approval of these products would mark the third wave of spot crypto ETFs. In addition, VanEck, 21Shares and several other parties are awaiting the green light from the regulator for the approval of spot Ether ETFs. According to a Reuters report these products could probably go live within a week.

Growing interest in Solana

Cboe’s move signals strong interest in Solana, the third-most traded cryptocurrency. Rob Marrocco, global head of ETP listings at Cboe, said: “We are now responding to the growing interest from investors in Solana.” The exchange currently lists six spot Bitcoin ETFs, including products from Fidelity, Ark/21Shares and VanEck, out of a total of 10 approved by the regulator.



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