• 21Shares has officially filed for a Spot Solana ETF with the SEC
• This is the second filing for a Solana ETF this week, after VanEck filed for one the previous day
• Recent data from GSR shows that Solana is the token most likely to get the next investment offering after Bitcoin and Ethereum
21Shares has officially filed for a Spot Solana ETF. The Spot Bitcoin ETF issuer filed a new crypto-based ETF with the US Securities and Exchange Commission (SEC) on Friday. This is the second SOL ETF application made this week, following VanEck’s filing yesterday.
21Shares Follows VanEck’s Lead
In a notable development for the industry, 21Shares filed for a Spot Solana ETF with the SEC. The filing seeks to offer the exchange-traded product on the Cboe BEZX exchange. Moreover, the product will present a convenient and cost-effective method for investors to gain investment exposure to SOL without making a direct investment in SOL.
VanEck submitted a similar filing yesterday. The firm’s Head of Digital Assets Research, Matt Sigel, recently discussed the decision to file. He said that the regulatory landscape is shifting and this represented a key time to get the process started.
Growing Demand for SOL ETF
The applications from 21Shares and VanEck follow recent data from GSR showing growing demand for a SOL investment product. The metrics showed SOL has established itself alongside BTC and ETH as one of the market’s three biggest assets.
When measuring decentralization and demand, GSR noted SOL was the natural follow-up to the two previous ETF approvals. The firm said Solana outpaced the next closest digital asset and was the only other besides Ethereum to have positive scores for both decentralization and demand.
Conclusion
The filings from 21Shares and VanEck suggest confidence is growing for regulatory approval of a Spot Solana ETF. This comes on the heels of data showing surging interest in accessing SOL exposure through an exchange-traded product. The applications are the latest sign of momentum building behind Solana in the institutional investment world.
