Cboe BZX has filed “19b-4” application for the approval to list Solana ETFs for the 21Shares Core Solana ETF and the VanEck Solana Trust

Background

VanEck and 21Shares applied with the SEC to launch the Solana ETFs in June.

Asset manager VanEck has filed an S-1 registration form for a Solana (SOL) exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC) on June 27, 2024.

It marks the first ETF registration for Solana in the U.S.

1 day later, on June 28, 2024, ARK21 Shares, a partnership between 21Shares and Ark Invest has filed S-1 for a spot Solana ETF.

Cboe BZX filing with the SEC

Cboe BZX is one of the four U.S. equities exchanges operated by Cboe Global Markets.

Cboe BZX filed a request with the U.S. Securities and Exchange Commission (SEC) seeking to list exchange-traded funds (ETFs) tied to the cryptocurrency Solana.

On July 8, 2024, the Cboe BZX has filed “19b-4” application for the approval to list Solana ETFs for the 21Shares Core Solana ETF and the VanEck Solana Trust and it requires the SEC to make a decision within 240 calendar days.

The U.S. Securities and Exchange Commission (SEC) has 240 calendar days to decide whether to approve or deny Cboe’s “19b-4” application.

These are the first proposed ETF products tied to the price of Solana, the fifth largest cryptocurrency.

If approved, these products would mark a third wave of spot cryptocurrency ETFs, after the SEC approved spot bitcoin ETFs and spot ether ETFs are waiting for the SEC’s approval.

If approved, Solana ETFs would mark a third wave of spot cryptocurrency ETFs.