Ah, the grand halls of finance quiver with anticipation as Cboe BZX Exchange, that venerable titan of US securities, has thrown its hat into the ring, seeking permission to list a Fidelity exchange-traded fund (ETF) laden with Solana (SOL). This audacious move was etched into the annals of financial lore on March25, as per the filings. 📜
Now, the fate of this bold venture rests in the hands of the US Securities and Exchange Commission, that mighty arbiter of fortunes. Their blessing is the golden key needed to unlock the gates and let the Fidelity Solana Fund gallop onto the exchange. 🗝️
This is but a single chapter in the burgeoning epic of exchanges and fund sponsors, who, with a fervor akin to gold rush prospectors, are seeking to launch ETFs holding SOL and other mystical cryptocurrencies. 🌌
Just a fortnight prior, on March12, Cboe, in a display of relentless ambition, filed to list yet another spot SOL ETF, this time under the sponsorship of the esteemed asset manager Franklin Templeton. 🎩
A Filing Frenzy of Epic Proportions
Hot on the heels of Cboe’s latest filing, asset manager Volatility Shares, not to be outdone, launched an ETF utilizing the arcane instruments known as futures, all in the noble pursuit of tracking the mercurial performance of spot SOL. 🎢
March witnessed the birth of Volatility Shares Solana ETF (SOLZ) and its daredevil sibling, the Volatility Shares2X Solana ETF (SOLT), the pioneers granting US investors a taste of Solana’s native token’s wild ride. And lo, the SOLT ETF, with a devil-may-care attitude, tracks SOL’s performance with double the gusto,2x leverage! 💥
The soothsayers at Bloomberg Intelligence, with a twinkle in their eye, peg the odds at a tantalizing70% that the US regulators shall smile upon a spot SOL ETF this year, as decreed in a February missive on the X platform. 🔮
Joining the fray, a veritable who’s who of asset managers, including Grayscale, VanEck,21Shares, Canary, and Bitwise, are jostling to list their own spot SOL ETFs, according to the seers at Bloomberg Intelligence. 🤹
On March17, the Chicago Mercantile Exchange (CME), that behemoth of US derivatives, unfurled SOL futures contracts, a move that experts interpret as a harbinger, a celestial sign that spot SOL ETFs shall soon be anointed in the land of the free. 🚀
Amidst this maelstrom, roughly a dozen asset managers, with hearts full of hope and pockets full of dreams, seek the SEC’s benediction to launch altcoin ETFs in the US, spanning from the venerable Litecoin (LTC) and the enigmatic XRP (XRP) to the jovial Dogecoin (DOGE) and the, ahem, Official Trump (TRUMP). 🐶🇺🇸
Issuers, not content with mere listings, beseech the SEC for further indulgences: staking, options, in-kind redemptions, oh my! A veritable smorgasbord of financial wizardry. 🧙
And lo, the SEC, that stern guardian of financial propriety, has softened its gaze upon the realm of cryptocurrency, coinciding, some whisper, with the onset of US President Donald Trump’s second term in January. 🕊️
Under the reign of former President Joe Biden, the SEC, wielding its regulatory sword with zeal, brought forth a deluge of lawsuits against crypto firms, a veritable tempest of securities law allegations. Yet, in the year of our Lord2024, the regulator deigned to bless spot Bitcoin (BTC) and Ether (ETH) ETFs, whilst casting a wary eye upon other crypto hopefuls. ⚔️🛡️
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2025-03-25 21:11