21Shares has formally filed for a Spot Solana ETF. Certainly, the Spot Bitcoin ETF issuer filed a brand new crypto-based ETF with the US Securities and Trade Fee (SEC) Friday. The submitting is the second SOL ETF software made this week, following VanEck’s yesterday.
A current report from GSR reveals that Solana is the token almost certainly to get the subsequent funding providing. Earlier this yr, each Bitcoin and Ethereum had been greenlit for exchange-trade merchandise, with the market anxiously awaiting which crypto may very well be subsequent.
21Shares is Second to File for Spot Solana ETF
In what’s definitely a notable improvement for the trade as an entire, 21Shares has filed for a Spot Solana ETF with the SEC. The official submitting seeks to supply the exchange-traded product “on the Cboe BEZX change.” Furthermore, the product will current a “handy and cost-effective methodology for buyers to realize funding publicity to SOL with out making a direct funding in SOL.”
VanEck submitted an analogous submitting yesterday. The agency’s Head of Digital Property Analysis, Matt Sigel, not too long ago mentioned the choice. “We consider that the regulatory panorama is shifting,” Sigel advised The Block. Due to this fact, he famous that the present local weather represented a key time to attempt to get the method began.
21Shares has seemingly agreed with the motion they took to finish the week. Furthermore, the purposes observe current GSR information that supported the rising demand for the SOL-based funding product. The metrics confirmed that the token has clearly established itself alongside BTC and ETH because the market’s three largest property.
When measuring decentralisation and demand, GSR famous SOL was a pure follow-up to the 2 earlier ETF approvals. The agency stated Solana “outpaced the subsequent closest digital asset by a big margin and was the one different in addition to Ethereum to have constructive scores for each decentralization and demand.”
