Cboe BZX Exchange has reignited the race for Solana-based ETFs, refiling a fresh batch of applications on behalf of four major investment firms on Tuesday.
The exchange submitted new 19b-4 filings for the Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and VanEck Solana Trust.
With these applications, the Securities and Exchange Commission will restart its review process for spot Solana investment products. It comes after the withdrawal of previous applications last year at the regulator’s request.
If approved, these ETFs would offer traditional investors exposure to Solana without directly holding the crypto, potentially broadening access to the digital asset market.
The latest filings ride on the momentum of crypto ETF approvals, with Bitcoin and Ethereum products gaining SEC clearance in early 2024.
But, unlike the world’s two-largest cryptos, Solana faces unique regulatory hurdles.
The c…
