VanEck and 21Shares file for Solana ETFs, indicating rising interest in Solana. The SEC approval process is ongoing, reflecting the evolving integration of cryptocurrencies into traditional financial markets.
According to the Securities and Exchange Commission (SEC), VanEck and 21Shares have officially filed for 19b-4s for spot Solana ETFs. Solana’s token, SOL, has increased by 16% in the last week to hit $147.35, showing that more people are interested in the project.
VanEck and 21Shares’ applications link to a larger trend of asset managers wanting to start exchange-traded funds (ETFs) based on cryptocurrencies. Earlier this year, the SEC approved both spot Bitcoin and Ethereum ETFs.
Growing Interest in Crypto ETFs Amid Regulatory Uncertainty
VanEck was the first company to file for a spot Ether ETF in 2021, putting them at the forefront of this trend. Recently, the company applied for a Solana ETF, which shows that it thinks the SOL token works like other digital currencies like Bitcoin and Ethereum.
The Chicago Board Options Exchange (CBOE) has also sent two 19b-4 forms to the SEC. If cleared, VanEck and 21Shares plan to list their Solana ETFs on the CBOE. This move shows that people are becoming more interested in Solana and that the cryptocurrency market could grow even more.
However, getting these ETFs approved is not always easy. For the next 240 days, the SEC has to decide whether to accept or reject the products. The regulatory environment is still unclear and complicated.
Even with these challenges, VanEck and 21Shares’ papers show that they are becoming more interested in Solana and the cryptocurrency market as a whole.
