SEC Acknowledges Solana ETF Applications
In a regulatory filing on Tuesday, the Securities and Exchange Commission (SEC) opened public comments on the “Canary Solana Trust,” a proposed ETF from Canary Capital aimed at integrating SOL investing into mainstream finance.
The SEC also noted similar filings from VanEck, 21Shares, and Bitwise later that day.
This filing initiates a timeline for these companies’ proposed investment vehicles. Within 21 days, the SEC will issue a decision (either approval or denial) or, more likely, extend the timeline with deadlines for further consideration.
Market observers are generally optimistic that SOL and other altcoins will secure their own ETFs this year, although the specific timing and order of approvals remain uncertain.
What is becoming increasingly clear, however, is the SEC’s newfound openness toward the cryptocurrency industry, moving beyond the reluctance that characterized the tenure of former Chair Gary Gensler.
