Cboe Initiates Regulatory Process For Solana ETF, March 2025 Deadline Set By Filing

The Chicago Board Options Exchange (CBOE), known for trading a Bitcoin exchange-traded fund (ETF) approved earlier this year, has endorsed the Spot Solana ETF submitted by asset managers VanEck and 21Shares.

On Monday, the Chicago Board Options Exchange (Cboe) filed a request with the U.S. Securities and Exchange Commission (SEC) to list a Solana-related ETF, drawing attention from industry experts.

Solana ETF Markets Nears Approval

ETF Expert Nate Geraci Revealed The Chicago Stock Exchange has filed Form 19b-4 for both the VanEck and 21Shares Solana ETFs. Geraci explained that once the SEC approves these filings, a decision-making process will begin and amendments to the formal filings will be made accordingly.

Under SEC rules, the SEC has 240 days to approve or deny Cboe’s 19b-4 application to list the VanEck and 21Shares products, which puts the deadline for the company to make a public statement on the application on March 5, 2025.

VanEck and 21Shares filed “S-1” filings with the SEC in June to launch the new products, but the SEC must approve those investor disclosure filings before the products can begin trading.

If approved, the Solana ETF would be a major development for the cryptocurrency industry and increase bitcoin adoption, following the SEC’s approval of an ETF linked to the price of bitcoin earlier this year. The 5th largest cryptocurrency It provides additional exposure for both retail and institutional investors.

Experts predict potential impact of November’s US elections

Rob Marrocco, global head of ETP listings at Cboe, said: Said According to Reuters, the exchange is focused on catering to growing investor interest in Solana, which has emerged as one of the most actively traded cryptocurrencies after Bitcoin and Ethereum.

Bloomberg ETF expert Eric Balchunas also commented: state The final deadline for filing the Solana ETF is likely to be mid-March 2025. However, experts stressed the importance of the upcoming elections in November.

If President Biden wins, the confirmation process could face challenges due to the Biden Administration’s continued crackdown and skepticism of the industry stemming from SEC enforcement actions witnessed over the past few years.

On the other hand, if former President Trump wins on his pro-crypto platform, the mid-March deadline Positive results For asset managers, that is the case, according to Bartuna’s analysis.

In addition to the Solana ETF filing, other issuers including VanEck, 21Shares and BlackRock are awaiting final SEC approval to launch ETFs tied to the spot price of Ethereum, the second-largest cryptocurrency.

A source familiar with the process suggested to Reuters that approval for these Ethereum ETFs would likely come within the next week, as regulators have already approved CBOE’s applications to list and trade these products.

The daily chart shows the price recovery of SOL in the past 24 hours. Source: SOLUSD on TradingView.com

At the time of writing, Solana’s native token SOL is trading at $141, up 4.5% in the past 24 hours, as bullish sentiment around the potential approval of these index funds begins to grow among Solana investors.

Featured image from DALL-E, chart from TradingView.com


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