Cboe BZX Trade, a US securities trade, has requested permission to checklist a proposed Constancy exchange-traded fund (ETF) holding Solana (SOL), in response to March 25 filings.
The request now sits with the US Securities and Trade Fee, which should approve the submitting earlier than buying and selling of the Constancy Solana Fund can begin on the trade.
That is the newest in a spate of filings with the federal company by exchanges and fund sponsors searching for to launch ETFs holding SOL and different cryptocurrencies.
On March 12, Cboe filed to checklist one other spot SOL ETF sponsored by asset supervisor Franklin Templeton.
Supply: James Seyfart/Bloomberg Intelligence
Associated: Solana CME futures tip impending US ETF approvals — Exec
Quite a few filings
Cboe’s submitting comes after asset supervisor Volatility Shares launched an ETF utilizing monetary derivatives often known as futures to trace the efficiency of spot SOL.
Launched in March, Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT) are the primary ETFs offering US traders with publicity to Solana’s native token. The SOLT ETF tracks SOL’s efficiency with 2x leverage.
Analysts at Bloomberg Intelligence peg the percentages at 70% that US regulators approve a spot SOL ETF this 12 months, in response to a February publish on the X platform.
Different asset managers searching for to checklist spot SOL ETFs embody Grayscale, VanEck, 21Shares, Canary and Bitwise, in response to Bloomberg Intelligence.
On March 17, the Chicago Mercantile Trade (CME), the US’s largest derivatives trade, launched SOL futures contracts. Specialists say that is additional indication that spot SOL ETFs will quickly be permitted within the US.
Roughly a dozen asset managers are searching for the SEC’s approval to launch altcoin ETFs within the US. The proposed ETFs for altcoins vary from Litecoin (LTC) and XRP (XRP) to Dogecoin (DOGE) and Official Trump (TRUMP).
Issuers are additionally asking for the SEC to approve modifications to current ETFs, together with allowances for staking, choices and in-kind redemptions.
The SEC eased its stance on cryptocurrency after US President Donald Trump started his second time period in January.
Below former President Joe Biden, the SEC introduced upwards of 100 lawsuits in opposition to crypto corporations, alleging varied securities regulation violations. In 2024, the regulator greenlighted spot Bitcoin (BTC) and Ether (ETH) ETFs however stymied proposed ETFs tied to different cryptocurrencies.
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