The News Crypto -
- The Chicago Board Options Exchange (CBOE) has filed form 19b-4s for Solana exchange-traded funds (ETFs) with the SEC.
- The SEC has a deadline until mid-March 2025 to respond to the request.
- Solana’s price has surged by over 6.47% in the past 24 hours.
The Chicago Board Options Exchange (CBOE) has submitted form 19b-4s to the United States Securities and Exchange Commission (SEC) for the approval of Solana exchange-traded funds (ETFs).
This move marks a crucial step towards the potential listing of Solana ETFs on regulated exchanges, opening up new investment opportunities for institutional and retail investors alike.
The 19b-4s format is utilized by self-regulating organizations (SROs) that exercise a certain degree of authority over an industry to inform the SEC of proposed rule changes.
Once the form is submitted, the SEC invites public opinion on the proposed changes and subsequently publishes all the comments received.
SEC Given Deadline Until Mid-March 2025 for Solana ETF Decision
The CBOE has presented the 19b-4s format for trading the Solana ETF spot for two initial issuers, VanEck and 21Shares. Following the submission, the SEC now has a deadline until mid-March 2025 to respond to the request.
This process closely resembles the one that transpired with spot Bitcoin and Ethereum ETFs in the past.
ETF analysts have expressed their views on the potential approval of Solana ETFs, with some suggesting that the chances of approval may increase if Donald Trump emerges victorious in the November 2024 Presidential election.
Nate Geraci, the President of the ETF store, emphasized that once the SEC acknowledges these filings, the decision clock begins ticking. Amidst these developments, the price of Solana has surged by over 6.47% in the past 24 hours, currently trading at $141.07.
Last month, VanEck’s chief of research, Matthew Sigel, discussed the regulation of cryptocurrencies in the United States following the firm’s recent attempt to register a Solana ETF spot. Sigel mentioned that a Solana ETF is a possibility, given the smooth process of Ethereum’s spot ETF approval.
This article was originally published on thenewscrypto.com
