- Four asset managers submit filings for spot Solana ETFs, targeting SEC approval under new leadership.
- Bitwise, VanEck, 21Shares, and Canary Capital aim to list Solana ETFs on Cboe BZX Exchange.
- Industry anticipates friendlier crypto regulation following SEC Chair Gensler’s planned January resignation.
Four major asset managers have filed applications for spot Solana ETFs, looking to capitalize on potential regulatory shifts within the United States Securities and Exchange Commission (SEC). The filings, submitted on November 21, come as SEC Chair Gary Gensler announced his resignation, effective January 2025.
Multiple Firms Target Solana ETF Approval
Bitwise, VanEck, 21Shares, and Canary Capital have all applied to list their Solana ETFs on the Cboe BZX Exchange. This move follows earlier filings, including statutory trusts and S-1 registration statements, signaling a growing focus on Solana within the asset management industry.
According to a filing by VanEck, Solana’s strong performance this bull cycle has made it an appealing choice for ETF inclusion. A spokesperson for 21Shares emphasized that Solana’s native token, SOL, is considered a commodity, with no court ruling labeling it as a security.
Source: TradingView
Regulatory Changes Could Shape ETF Landscape
Gensler’s departure aligns with growing optimism within the crypto community about more accommodating regulations under the incoming administration. President-elect Donald Trump has expressed support for crypto innovation, and the leadership change at the SEC could pave the way for broader ETF approvals.
While the focus has been on Bitcoin and Ethereum ETFs, Solana’s remarkable growth—surpassing 2,500% this cycle—has positioned it as a strong contender in the ETF space. Industry analysts predict modest inflows into Solana ETFs initially but remain optimistic about long-term potential as regulatory clarity improves.
