- CBOE received a request from VanEck & 21shares for ETFs based on Solana.
- CBOE filed a 19b-4 with the SEC regarding Solana ETFs.
CBOE will list VanEck and 21Shares products, after they submitted S-1 to the SEC last month. CBOE Chicago Board Options Exchange reportedly requested that the SEC allow VanEck 21Shares products to be listed. Solana [SOL] ETF.
Mathew SigelThe Head of Digital Assets Research at VanEck reported on the development. He tweeted.
“We at @vaneck_us are pleased to announce that @CBOE. I just filed our 19b-4 to list and trade shares of the FIRST Solana exchange-traded fund in the US! We look forward to engaging with the SEC during the review period.”
CBOE filed the 19b-4 with Securities and Exchange Commission (SEC), requesting Solana based ETF. The SEC will acknowledge the request and the SEC has 240 days in which to either accept or reject it.
Rob Marrocco explained to CBOE’s global markets head that, since obtaining SEC approvals for BTC and ETH (SOL is the third-most traded crypto), the interest of investors in ETFs has grown.
CBOE currently lists additional ETFs that are available for BTC or ETH. According to their reports, CBOE has listed 10 BTC ETFs.
When officially approved by SEC, the SEC will list five ETFs that are ETH-based. The SEC is expected to approve Ether ETFs this week.
Crypto markets and SOL ETFs: Impact on the crypto market
SOL ETF approval has a significant impact on the cryptocurrency community, and Solana investors.
SOL ETF is expected to attract institutional investors, who will raise capital. financial Solana is a major market for the flow of money.
Entry of institutional investor will be a key factor in pushing SOL to the level of BTC.
As an example, following the approval of BTC ETF this year the price went up to ATH level of $73k. Despite a decline in the market, each metric shows that the $100k mark will be reached by the end year.
Second, SOL ETFs signal traditional financial The acceptance and adoption of digital assets by the market, thereby increasing their integration.
Click Here to Read Solana’s [SOL] Price Prediction 2024-25
Solana’s community has high hopes for the ETF. It is seen as a significant step forward that will allow it to be profitable and open a new path for ETFs based on other cryptocurrencies.
SOL’s ETF can legitimize altcoins while increasing investment. Increased scrutiny from regulatory agencies will affect blockchain’s main goal of decentralization.
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Source: ambcrypto.com