Fintech
Fintech firm 21Shares follows VanEck’s lead and applies for the Solana ETF (SOL)
21Shares has now officially filed paperwork in hopes of launching a Solana (SOL) exchange-traded fund (ETF).
The fintech company introduced a registration statement with the U.S. Securities and Exchange Commission (SEC) on Friday for the “21Shares Core Solana ETF,” which would trade on the Cboe BZX Exchange if approved.
Three years ago, the European branch of 21Shares launched the world’s first Solana ETF in Europe, the 21Shares Solana Staking ETP (ASOL). The financial product has more than $846 million in assets under management as of June 27.
The fintech company He says recent filings with the SEC are “essential to democratizing access to cryptocurrencies in the United States.”
“We believe this is a necessary step for the cryptocurrency industry and is true to our mission of bringing easily accessible cryptocurrency-focused financial products to the market.”
21Shares is the second company to file for a SOL ETF in the U.S. this week. On Thursday, investment giant VanEck introduced an S-1 registration statement with the securities regulator in hopes of launching its own “VanEck Solana Trust.” The product would also be listed on the Cboe BZX Exchange if approved by the SEC.
SOL is trading at $141.84 at the time of writing. The fifth-largest crypto asset by market cap is down nearly 4% in the past 24 hours.
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