Catenaa, Wednesday, January 29, 2025 – Cboe BZX Exchange Inc. has refiled 19b-4 applications on behalf of multiple asset managers for a spot Solana exchange-traded fund (ETF), marking another attempt to gain approval from the
Securities and Exchange Commission (SEC).
The filings, submitted Tuesday, include proposals for the Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and the VanEck Solana Trust. These applications were previously rejected in 2024, reportedly at the SEC’s request, but issuers are optimistic that the Trump administration’s pro-crypto stance may improve their chances in 2025.
A major regulatory hurdle remains whether Solana (SOL) will be classified as a security or a commodity, which could impact the SEC’s evaluation.
Under former SEC Chair Gary Gensler, the commission approved Bitcoin ETFs in January 2024, followed by Ethereum ETFs later that year. However, Solana’s regulatory status remains uncertain.
Industry insiders speculate that the SEC, now under crypto-friendly leadership, may take a more favorable view of Solana ETFs compared to the previous administration.
Cboe, or Cboe Global Markets, Inc., is a leading global exchange operator based in Chicago, originally founded as the Chicago Board Options Exchange (CBOE) in 1973. It is the largest options exchange in the world, offering a diverse range of trading products including options on equities, indexes, and interest rates, as well as futures and foreign exchange. Cboe is also known for creating the CBOE Volatility Index (VIX), a key measure of market volatility. The company rebranded in 2017 to reflect its broader market operations beyond options trading.
