Canary Capital Submits Spot Solana ETF Application to SEC Actively Developing Diverse Cryptocurrency ETFs
Cryptocurrency asset management company Canary Capital filed an application with the U.S. Securities and Exchange Commission (SEC) on 10/30 for a Solana spot ETF.
Spot Solana ETF plan to reduce SOL holding risks
Canary stated that the spot Solana ETF will use the CF Solana Index provided by the Chicago Mercantile Exchange (CME) to track the real-time price of the SOL token, allowing interested investors to participate in the Solana market without holding SOL tokens. Furthermore, trading can also be conducted through traditional securities accounts.
Cryptocurrency ETF frenzy, Solana becomes a new favorite
Since the approval of Bitcoin and Ethereum spot ETFs in January and July of this year respectively, Solana is seen as the next cryptocurrency spot ETF to be approved by the SEC. In addition to Canary Capital, asset management companies such as VanEck and 21Shares submitted applications for Solana spot ETF at the end of June. Franklin Templeton also expressed high interest in Solana.
Canary actively expands cryptocurrency ETF territory
Founded by Steven McClurg, co-founder of Valkyrie Funds, Canary Capital submitted applications for XRP and Litecoin ETFs on 10/8 and 10/15 respectively before the Solana spot ETF application this month. This demonstrates Steven McClurg’s active expansion of diverse cryptocurrency investment tools, leveraging his experience at Valkyrie Funds and riding the wave of the cryptocurrency boom.
