21Shares has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Solana exchange-traded fund (ETF). Named the 21Shares Core Solana ETF, this fund will not engage in staking SOL.
The filing, made on June 28, marks the second application the SEC has received for a spot SOL ETF, following a similar submission by VanEck on June 27.
The 21Shares Core Solana ETF will be listed on the Cboe BZX Exchange, with Coinbase serving as the custodian for the fund’s Solana holdings. These holdings will be insured privately. The fund will not be involved in validating or staking SOL, and the value of SOL within the fund will be calculated daily at 4:00 PM ET.
21Shares, a crypto-focused financial technology company based in Zurich, Switzerland, already offers Ethereum and Bitcoin ETFs in the United States.
The news of VanEck’s filing saw Solana’s price surge from $139 to $150, later stabilizing at $141.58 by 12:00 PM ET, according to CoinMarketCap.
Summary Review: SEC‘s consideration of these applications could pave the way for more diverse crypto investment options in the U.S. market, reflecting growing interest in Solana among institutional investors.
Disclaimer: Remember that nothing in this article and everything under the responsibility of Web30 News should be interpreted as financial advice. The information provided is for entertainment and educational purposes only. Investing in cryptocurrency involves inherent risks and potential investors should be aware that capital is at risk and returns are never guaranteed. It is imperative that you conduct thorough research and consult with a qualified financial advisor before making any investment decision.
