- 21Shares has filed a Solana (SOL) ETF, with its Core Solana ETF software coming a day after VanEck’s Solana Belief.
- SOL value hovered round $142 after the information, having soared after VanEck’s submitting on Thursday.
The Solana (SOL) ETF mania is selecting momentum with yet one more issuer submitting for a spot Solana ETF.
A day after VanEck filed for the same exchange-traded fund with the US Securities Trade Fee (SEC), 21Shares has submitted its personal software.
21Shares recordsdata for Solana ETF
In response to the submitting, the 21Shares Core Solana ETF will commerce on the Cboe BZX Trade and “monitor the efficiency of SOL, the native digital asset of the Solana blockchain.”
“21Shares is happy by the potential for an alternate traded product (ETP) within the US that gives entry to the Solana ecosystem. We consider it is a needed step for the crypto business and it holds true to our mission to carry to market simply accessible monetary merchandise centered round crypto property,” the agency wrote on X.
VanEck first to file SOL ETF within the US
VanEck and 21Shares are actually the primary two asset managers to file for SOL spot ETFs within the US and may very well be a matter of who subsequent because the business gears up for the spot Ethereum ETFs. The SEC authorised Ether ETFs in Could and consultants say the ultimate nod earlier than merchandise hit exchanges might come as quickly as subsequent week.
For Solana, Bloomberg senior ETF analyst Eric Balchunas says that it might be too early to pin a date to potential approval. Nonetheless, “the chances of a Solana ETF being authorised” in subsequent 12 months could enhance considerably if Trump wins this yr’s election.
SOL value amid ETF information
On Thursday, Solana value rose sharply because the market reacted to VanEck’s submitting.
On Friday, the cryptocurrency pared many of the positive factors because the broader ecosystem heaved below continued draw back stress.
Nonetheless, as Bitcoin struggled beneath $61k and Ether battled close to $3,400, SOL was trying to rebound above $142. In contrast to BTC and ETH that have been down 4.5% and three% respectively over the previous week, Solana’s value was up 8%.
