Follow Us @
Four major managers compete to launch Solana ETF
-Trending Marketing news, content marketing, latest Ways to rank your website, marketing discoveries, Local SEO, seo and social media marketing services. enjoy your stay on our website.
The race to launch the first index fund (ETF) focused on the Solana blockchain is gaining momentum, with four major managers submitting proposals to the Chicago Board Options Exchange (CBOE). The movement caused an all-time high in the price of the SOL token, which reached US$262.93 before a slight pullback.
The managers Bitwise, Canary Capital, VanEck and 21Shares submitted the proposals to the United States Securities and Exchange Commission (SEC). The submissions include forms S-1 and 19b-4, with Bitwise’s proposal, dated November 21, suggesting the creation of a commodity-based trust.
The SEC now has up to 15 days to acknowledge the documents and publish them in the Federal Register. This step begins a 240-day review period. Although previous proposals for Solana ETFs were withdrawn at the beginning of the year, market analysts believe that the regulatory scenario is more favorable following Donald Trump’s victory in the US presidential elections.
Expectations of changes in SEC leadership, with the likely departure of Gary Gensler, and a more positive stance towards cryptocurrencies fuel optimism.
However, experts warn of remaining obstacles. Bloomberg Senior ETF Analyst Eric Balchunas highlighted the need to resolve pending lawsuits classifying SOL as a security.
The enthusiasm around ETFs has coincided with a significant rise in the value of the Solana token. The price rose nearly 20% in the last week, reaching an all-time high of $262.93 before retreating to just above $259.
With a market value of over US$125 billion and a trading volume of US$14.8 billion in the last 24 hours, SOL now occupies fourth position in the ranking of the largest cryptocurrencies. If the ETFs are approved, they will expand access to Solana for traditional investors. This will cement its position alongside Bitcoin and Ethereum as one of the top blockchains on the market.
Four major managers compete to launch Solana ETF
Follow TODAYSGIST on Google News and receive alerts for the main trending SEO news, Ai news, latest Ways to rank your website, marketing discoveries, Local SEO and lots more!
Four major managers compete to launch Solana ETF
SHARE POST AND EARN REWARDS:
Did you like this post?!!! Join our Audience reward campaign and make money reading articles, shares, likes and comment >> Join reward Program
FIRST TIME REACTIONS:
Four major managers compete to launch Solana ETF
Be the first to leave us a comment, down the comment section. click allow to follow this topic and get firsthand daily updates.
JOIN US ON OUR SOCIAL MEDIA: << FACEBOOK >> | << WHATSAPP >> | << TELEGRAM >> | << TWITTER >
Four major managers compete to launch Solana ETF
