The crypto world is buzzing about Solana ETFs! Several companies are vying to bring a Solana (SOL) exchange-traded fund to the market, offering investors a more accessible way to invest in this popular cryptocurrency.
21Shares Updates its Application
21Shares, a big player in the crypto ETF space, recently updated its application for a spot Solana ETF. This isn’t just a minor tweak; it’s a significant move aimed at addressing concerns raised by the US Securities and Exchange Commission (SEC). The update specifically tackles issues like in-kind redemptions, a key regulatory hurdle. This shows 21Shares is serious about getting its SOL ETF approved. The fund will hold SOL, managed by Coinbase Custody, providing investors with indirect exposure to Solana without the complexities of the spot market.
More Players Enter the Ring
21Shares isn’t alone in this race. Other companies are also trying to get their Solana ETFs approved. For example, the Cboe BZX Exchange recently filed to list the Invesco Galaxy SOL ETF. This ETF aims to offer regulated access to SOL, even including staking incentives. This follows the recent launch of the first Solana Staking ETF in the US, highlighting the growing interest in regulated Solana investment products. If approved, these ETFs would be among the first of their kind in the US, providing investors with a much easier way to invest in Solana.