New SEC evaluates Solana spot ETFs at CBOE's request

By Davide Grammatica

The U.S. exchange CBOE has submitted applications to the SEC for a new Solana spot ETF on behalf of four different issuers

Steps forward for SOL spot ETFs

Those who have long been interested in the crypto world and the development of the industry will certainly remember the famous Forms 19b-4. We have talked about them many times in relation to the approval process forBitcoin spot ETFs , last year, and even today they are back in the news with respect to developments in the ETF industry.

In fact, it is news of the last hours that of a new request to the SEC of the American stock exchange CBOE, expressed by the publication of Forms 19b-4 on behalf of several issuers, for the approval of a new Solana spot ETF.

We are talking about the “Canary Solana Trust”, the “Bitwise Solana ETF”, the “21Shares Core Solana ETF” and the “VanEck Solana Trust”, whose applications for approval are under consideration by the new SEC. “New” because the new Trump administration removed former chairman Gary Gensler, removing a major obstacle in the path of promoting the industry promised by the U.S. president, from office.

UPDATE: @CBOE just re-filed all of their Solana ETF 19b-4s for @vaneck_us, @CanaryFunds, @BitwiseInvest & @21Shares pic.twitter.com/CUogAWBl6u

— James Seyffart (@JSeyff) January 28, 2025

The obstacle of the “new” SEC

Precisely on this assumption, the path to approval of the new SOL spot ETFs now seems written. Last year, on the contrary, the SEC itself had blocked the approval process.

The hopes of those who saw a new altcoin-based ETF coming as early as 2025 could be realized. After all, the precedent of BTC and ETH spot ETFs was a turning point, and today especially mainstream finance seems to be proactive in opening up to this sector.

The only difficulties, despite the new pro-crypto executive, may be regulatory in nature. Indeed, it is not certain that SOL can be categorized as an asset of the same kind as BTC or ETH.

Share on: