Solana spot ETF: 21Shares seeks approval for Solana spot ETF post VanEck filing
Solana spot ETF– Investment firm 21Shares has made a significant move in the cryptocurrency market by submitting form S-1 for its Solana exchange-traded fund (ETF) application to the US Securities and Exchange Commission (SEC).
This marks the second ETF application for Solana, coming shortly after VanEck’s filing earlier this week. 21Shares’ action today further fuels discussions on whether Solana will be the next cryptocurrency to gain ETF approval.
Next in Line: Solana ETF Approval
The approval of the S-1 form is crucial because it allows the issuer to list and trade Solana ETFs. With this filing on Friday, June 28th, 21Shares has strengthened its position among applicants for crypto ETFs.
While the filing has garnered positive feedback from the community, including Bloomberg analyst Eric Balchunas, he cautions that it’s too early to predict when approval might come. Much depends on the new US President and any changes in SEC leadership.
This wave of filings from 21Shares and VanEck is part of a larger trend where asset managers are seeking regulatory approval for various cryptocurrency ETFs. If these applications are approved, it would be a significant milestone for the market, offering institutional investors more options to invest in crypto.
FAQs
What is 21Shares’ application for the Solana spot ETF?
21Shares has submitted an application for a Solana spot exchange-traded fund (ETF). This application aims to create a financial product that allows investors to track and monitor the performance of Solana cryptocurrency.
What is the relationship between 21Shares and VanEck?
Both 21Shares and VanEck are significant investment firms that have filed for Solana ETFs. VanEck’s filing occurred shortly before 21Shares’, indicating increased competition in the approval process for Solana ETFs.
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