The Chicago Board Choices Change (Cboe) has confirmed two asset managers’ plans to launch a Solana-based exchange-traded fund (ETF).
The choices trade submitted 19b-4 filings with the Securities and Exchanges Fee (SEC) on Monday, asking to record VanEck’s and 21Shares’ potential spot Solana ETFs.
As soon as the SEC acknowledges receipt of the submitting, a 240-day window opens for the regulator to approve or deny the merchandise.
The Chicago Board Choices Change (Cboe) has formally requested the SEC to let asset managers VanEck and 21Shares convey a Solana-based exchange-traded fund (ETF) to the market.
The trade submitted a pair of 19b-4 filings with the Securities and Exchanges Fee (SEC) on Monday, asking to record these merchandise if and when authorised by the regulator. As soon as the SEC acknowledges receipt of the submitting, a window of 240 days opens wherein the regulator is pressured to decide on the merchandise, which might be underpinned by (SOL).
“After efficiently itemizing the primary U.S. spot Bitcoin ETFs on our trade and securing SEC approval for our rule filings to record spot Ether ETFs, we at the moment are addressing the growing investor curiosity in Solana – the third most actively traded cryptocurrency after Bitcoin and Ether,” Rob Marrocco, international head of ETP listings at Cboe International Markets, mentioned in a press release.
Cboe already lists six of the ten present spot bitcoin ETFs, together with merchandise issued by Constancy, Ark/21Shares and VanEck. It will even be the itemizing trade of 5 spot ether ETFs if and when these are authorised.
Trade analysts count on the SEC to log off on ether ETFs as quickly as this week, with many issuers submitting amended S-1 varieties throughout Friday and earlier Monday. There should be one other spherical of amended filings, as the latest submissions do not comprise any payment data.
Each VanEck and 21Shares filed one of many obligatory filings to record an ETF, the S-1, which is required when an entity is seeking to supply a brand new safety in the marketplace, in June. The submission of a 19b-4 is the second obligatory step within the course of as a result of it informs the SEC of a proposed rule change by a self-regulatory group (SRO) comparable to an trade.