Cboe files SEC applications for listing Solana ETFs by VanEck and 21Shares

Jul 09, 2024
On Monday, the Chicago Board Options Exchange (Cboe) filed 19b-4 applications with the SEC, requesting the listing of VanEck and 21Shares spot Solana ETFs. Upon confirmation of the application, the regulatory body will have a 240-day period to make a decision on the products.
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Rob Marrocco, Head of ETP Listings at Cboe Global Markets, stated that after successfully listing the first U.S. spot Bitcoin ETFs on Cboe and receiving SEC approval for filing spot Ether ETF listings, the company is now addressing the growing interest of investors in Solana.

Cboe currently lists six out of the ten existing spot Bitcoin ETFs, including products issued by Fidelity, Ark/21Shares, and VanEck. If approved, this would make Cboe the listing exchange for five spot Ether ETFs.

Analysts expect the SEC to approve the Ether ETFs as early as this week, given that many issuers submitted amended S-1 forms on Friday and earlier on Monday. Another round of amended applications is likely due to the lack of information about fees.

In June, VanEck and 21Shares filed S-1 forms confirming their intent to offer a new security to the market. The 19b-4 filing is the second step in the process, as it informs the SEC of the proposed rule change by a self-regulatory organization (SRO) like an exchange.