ETFs
VanEck and 21Shares Solana ETF Project Confirmed in CBOE Filing
The Chicago Board Options Exchange (Cboe) has formally requested that the SEC authorize asset managers Van Eck And 21 Shares to launch a Solana-based exchange-traded fund (ETF).
The exchange filed two 19b-4 filings with the Securities and Exchanges Commission (SEC) on Monday, requesting to list the products if and when they are approved by the regulator. Once the SEC acknowledges receipt of the filing, a 240-day window will open during which the regulator will be forced to make a decision on the products, which would be supported by (GROUND).
“After successfully listing the first U.S. spot Bitcoin ETFs on our exchange and receiving SEC approval for our rule filings to list spot Ether ETFs, we are now responding to growing investor interest in Solana – the third most actively traded cryptocurrency after Bitcoin and Ether,” Rob Marrocco, global head of ETP listings at Cboe Global Markets, said in a statement.
Cboe already lists six of the ten existing bitcoin spot ETFs, including products issued by Fidelity, Ark/21Shares and VanEck. It would also be the listing exchange for five ether spot ETFs if and when they are approved.
Industry analysts expect the SEC to approve ether ETFs as early as this week, with many issuers filing amended S-1 forms Friday and Monday morning. There could be another round of amended filings, as the most recent submissions do not include any information about fees.
Both Van Eck And 21 Shares In June, the SEC filed one of the documents required for an ETF to be listed, the S-1, which is required when an entity seeks to offer a new security to the market. Submitting a 19b-4 is the second necessary step in the process because it notifies the SEC of a rule change proposed by a self-regulatory organization (SRO) such as an exchange.