VanEck and 21Shares Filed 19b-4 Form for Solana (SOL) ETF with the SEC

Things are getting really serious about the Solana ETF this week. Investment giants VanEck and 21Shares are making a big move by filing 19b-4 forms

Investment management companies VanEck and 21Shares are making another attempt to launch Solana (SOL) exchange traded funds (ETFs) in the United States.

The latest move by the two firms includes filing Form 19b-4 with the U.S. Securities and Exchange Commission (SEC) to launch Solana (SOL) spot ETFs, according to recent observations.

This step is part of the regulatory process to obtain approval for listing these ETFs on Cboe BZX Exchange.

Earlier this year, VanEck filed Form S-1 on June 27 for the ETF, followed by 21Shares on June 28. These ETFs will provide investors with direct exposure to Solana by tracking its spot price. Notably, the ETFs will not be engaging in staking activities, likely due to the current regulatory uncertainties around crypto staking.

Both VanEck and 21Shares have been pushing to introduce Solana ETFs for several months, highlighting their commitment to expanding cryptocurrency investment options.

Their earlier attempts faced regulatory roadblocks, but there is no sign of them giving up on their endeavors.

In related news, VanEck and 21Shares are also making significant progress with Ethereum (ETH) ETFs. Back in May, the SEC approved their 19b-4 filings for Ethereum ETFs, which are set to start trading soon.

This approval is a big win and offers hope for the potential approval of Solana ETFs.

When the news about the initial filing hit the market, the price of Solana (SOL) reacted positively, and experts are expecting the same reaction from the market about the 19b filing.

If these ETFs get approved, Solana’s liquidity and trading volume will go up a lot, according to experts. But there are still some problems. The SEC still sees SOL as a security and there’s no regulated futures market for Solana yet, which the SEC thinks is really important for ETF approval.

Both VanEck and 21Shares are trying to get their crypto ETFs approved at the same time, which shows how much interest and competition there is in this market.

It might take a while for this to happen, but the benefits could be huge. As the rules and regulations change, getting approval for Solana spot ETFs could make cryptocurrencies more accepted in regular financial markets.

Investors and people in the industry are eagerly waiting to see what the SEC will decide, because it could really affect the future of crypto investments.

The above is the detailed content of VanEck and 21Shares Filed 19b-4 Form for Solana (SOL) ETF with the SEC. For more information, please follow other related articles on the PHP Chinese website!