Is There a Sign of Solana ETF Launch This Year? Cboe Submits Another Listing Application to the SEC.
Chicago Board Options Exchange (Cboe) Submits 19b-4 Application for Fidelity’s Solana ETF
The Chicago Board Options Exchange (Cboe) has once again submitted a 19b-4 application to the U.S. Securities and Exchange Commission (SEC) to allow the listing of Fidelity’s Solana ETF. The 19b-4 application submitted by Cboe is an important step in the approval process, although Fidelity still needs to submit an S-1 registration statement detailing the specifics of the Solana ETF fund product. Just a few days before submitting the application, Fidelity registered a trust entity for the Solana fund in Delaware, which will be based on the market performance of Solana.
Institutions including Grayscale, Bitwise, Canary, 21Shares, Franklin Templeton, and VanEck have also submitted registration applications for spot Solana ETFs. Earlier this year, Bloomberg’s senior ETF analyst Eric Balchunas estimated a 70% chance that the Solana ETF would be approved this year, although he did not predict a specific timeline.
Fidelity’s Wise Origin Bitcoin ETF has attracted approximately $11.5 billion in net inflows within just over 14 months of its establishment, making it the second-largest fund in the Bitcoin spot fund category. Among the numerous Bitcoin ETFs, Fidelity’s Solana ETF registered in Delaware also shows market potential and is worth watching.
Introduction to the Chicago Board Options Exchange (Cboe)
Established in 1973, the Chicago Board Options Exchange (Cboe) initially offered only options trading. As the company evolved, Cboe expanded its range of traded products and now provides a variety of financial derivatives, including stock options, index options, futures, foreign exchange trading, and exchange-traded funds (ETFs). Cboe is well-known for its support of cryptocurrencies, including promoting reforms in cryptocurrency market analysis and blockchain trading technology.
Cboe’s Movements as Indicators for Bitcoin ETF Listings
The Cboe exchange has played a crucial role prior to the listing of Bitcoin ETFs. Before Valkyrie Digital Assets submitted its S-1 registration for the VALKYRIE BITCOIN FUND, Cboe had already submitted an application to the SEC to list the company’s Bitcoin fund.
Will the Solana ETF Be the Next Approved Fund?
Since President Trump took office, there has been a significant shift in the SEC’s strategy for regulating cryptocurrencies, particularly in the approval of spot Bitcoin and Ethereum ETFs in 2024, which opens the door for other cryptocurrency ETFs in the future. ETF issuers are not only seeking regulatory approval but can also participate in modifying the structures of cryptocurrency ETFs, including strategies for staking, physical redemption, and derivatives. These changes will further bring cryptocurrencies into mainstream financial markets.
Various signs indicate that the Solana ETF may be listed this year. It is particularly noteworthy that Solana cryptocurrency remains primarily based on decentralized staking and has not yet become a compliant financial product for centralized exchanges like Coinbase. If the Solana ETF is approved, it could provide investors with a way to invest without directly purchasing Solana cryptocurrency. This article represents personal views and market observations and does not constitute any investment advice.
Risk Warning
Investing in cryptocurrencies carries high risks, and their prices can be highly volatile, leading to the potential loss of your entire principal. Please assess risks carefully.
