Ah, my dear friends, gather ’round and listen to this most intriguing tale of digital gold rush and regulatory intrigue! The U.S. Securities and Exchange Commission (SEC), that ever-vigilant watchdog, has acknowledged a recent Solana ETF application proposed by none other than Canary Capital.
Just as the sun rises in the east, the SEC also acknowledged Grayscale’s Solana ETF filing earlier this month. With such luminaries as Franklin Templeton registering a new Delaware entity, one can’t help but wonder: is the Solana ETF race about to become a grand derby of sorts?
As reported by our comrades at U.Today, VanEck was the first to propose a Solana ETF back in June. Since then, several other brave souls have followed suit, eager to strike it rich in this new digital Klondike.
Our friends at Bloomberg currently give a 70% chance of such a product being approved. But, dear readers, let us not forget the uncertain regulatory status of the SOL token. This digital wildcard has been named a security in several SEC lawsuits, casting a long shadow over its legitimacy.
And yet, the SOL price? Alas, it’s currently down 3.1%, as if to mock the very notion of approval. But fear not, for the world of crypto is as fickle as the wind, and fortunes can change in the blink of an eye.
So, my friends, let us watch and wait, for the world of ETFs and crypto may yet produce a most curious and fascinating spectacle.
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2025-02-11 21:49