SEC Advances Grayscale’s Solana ETF Proposal
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The US Securities and Exchange Commission has requested feedback from the public on a proposal to make the Grayscale Solana Trust available for listing and trading, ultimately converting it into an exchange-traded product.
On Thursday, the SEC acknowledged a filing from NYSE Arca, which put forth the idea to list and exchange the trust last month.
The SEC is giving the public 21 days to submit comments on the proposed change, after which the SEC will either approve or reject the proposal or begin further consideration.
Bloomberg ETF analysts James Seyffart and Eric Balchunas highlighted the significance of this move, noting that it is a rare instance of the SEC considering an ETF tied to a previously classified “security” coin.
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