IMPORTANT POINTS:
- VanEck and 21Shares plan to list Solana-based ETF.
- Cboe has sought SEC approval to list these products.
- SEC approval of Ether ETFs is expected in the coming days.
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Asset managers VanEck and 21Shares, which filed S-1 applications in June, will list their products on the Cboe Exchange, according to a filing with the exchange.
The Chicago Board Options Exchange (Cboe) has officially asked the SEC to allow asset managers VanEck and 21Shares to bring to market a Solana-based exchange-traded fund (ETF).
The exchange filed a pair of 19b-4 applications with the Securities and Exchange Commission (SEC) on Monday, asking to list these products if and when they are approved by the regulator.
Once the SEC acknowledges receipt of the filing, a 240-day window opens in which the regulator is required to make a decision on the products, which would be backed by SOL.
“After successfully listing the first US-based Bitcoin spot ETFs on our exchange and securing SEC approval for our rule filings to list Ether spot ETFs, we are now addressing growing investor interest in Solana, the third most actively traded cryptocurrency after Bitcoin and Ether.”Rob Marrocco, global head of ETP listings at Cboe Global Markets, said in a statement.
Cboe already lists six of the 10 existing Bitcoin spot ETFs, including products issued by Fidelity, Ark/21Shares and VanEck. It will also list five Ether spot ETFs when the SEC approves them.
Expectations for the approval of Ether ETFs
Industry analysts expect the SEC to approve Ether ETFs as early as this week, with many issuers filing amended S-1 forms earlier Friday and Monday. There may still be another round of amended filings, as the most recent filings do not contain information on fees.
VanEck and 21Shares filing process
Both VanEck and 21Shares filed one of the applications required to list an ETF — the S-1, which is required when an entity seeks to offer a new security to the market — in June. Filing a 19b-4 is the second necessary step in the process because it informs the SEC of a proposed change by a self-regulatory organization (SRO) such as an exchange.
