Solana ETF Rollercoaster: Will This Fortune Finder Survive Another SEC Ride?

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Ah, the Cboe BZX Exchange has once more dipped into the labyrinth of bureaucracy, re-filing applications like a suitor trying to win back a fickle beloved whose heart seemingly lies elsewhere. Four noble firms, leaning with palpable hope, have submitted their aspirational pleas to showcase their spot Solana ETFs—VanEck Solana Trust, Canary Solana Trust, Bitwise Solana ETF, and 21Shares Core Solana ETF. A veritable bouquet of ambition! 🌹

This new round of filings seeks to revive those once vibrant dreams that lay extinguished thanks to the cold, unyielding hand of regulatory rejection back in the far-flung year of 2024. One can almost hear the echoes of “better luck next time” ringing through the hallowed halls of finance.

Cboe Re-files Spot Solana ETF for These 4 Firms

– According to a January 28 missive—perhaps written in the ink of hope and desperation—the Cboe BZX Exchange has knuckled down and presented new applications under the SEC’s archaic 19b-4 process. Who knew the path to financial innovation would resemble such a tedious bureaucracy? The proposals yearn to introduce Solana-focused exchange-traded funds, allowing the eager investor to engage directly with the elusive Solana (SOL), much like a moth to a flame, or perhaps just a sentimental fool chasing shadows. 🦋

Previously, the noble applications for the VanEck Solana Trust et al. found themselves unceremoniously yanked in 2024 at the behest of the SEC—like a moth burned too fiercely and too soon. An anonymous issuer summoned the courage to sigh, noting that all filings were withdrawn to appease the whims of regulatory scrutiny. This editorial resurrection hints, of course, at a determined effort to pacify the regulatory beasts. 🐉

If the SEC graces these endeavors with its elusive approval, one might anticipate the official countdown to commence with bated breath, as the 19b-4 process swings into action. The applications, too, will find their way into the esteemed pages of the Federal Register, granting the populace a chance (nay, an obligation) to comment upon them—because who wouldn’t want to partake in a riveting game of regulatory commentary?

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2025-01-29 01:43