As a seasoned crypto investor with a solid understanding of the regulatory landscape, I’m keeping a close eye on the latest developments surrounding the race for a Solana ETF in the US. The recent filings by 21Shares and VanEck are particularly noteworthy, as they mark the beginning of an anticipated trend towards altcoin-specific ETFs.
An asset management company based in Switzerland, 21Shares, has independently submitted an application to launch a Solana Exchange-Traded Fund (ETF) in the US market. This action follows closely behind VanEck’s recent initiative to do the same.
The Growing Race for Solana ETF
As a researcher, I’ve discovered that 21Shares’ filing for a Solana exchange-traded product (ETP) is contingent upon the belief that Solana does not fall under the definition of a security in US securities laws. However, if the United States Securities and Exchange Commission (SEC) were to classify Solana as a security, 21Shares may reconsider their application due to the possibility of having to comply with additional registration requirements which they might not be willing to pursue.
As a crypto investor, I’ve been following the buzz surrounding a potential Solana Exchange-Traded Fund (ETF) with great interest. The conversation really heated up when the SEC gave the green light to spot Bitcoin ETF trading. And the excitement around altcoins didn’t stop there – with eight Ethereum ETF approvals last month, the pitch for a Solana ETF grew even stronger. If we consider the factors that led to the Ethereum ETFs being approved, companies like 21Shares and VanEck are hopeful that Solana might also get the nod from the SEC.
This is a developing story, please check back for updates!
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2024-06-28 19:43