- 21Shares filed Form 8-A(12b) for its Solana ETF, positioning the fund for Cboe BZX listing once the SEC clears it.
- The product tracks SOL and adds staking yield, with a liquidity buffer and a low sponsor fee as described by the sponsor.
- Timing depends on SEC operations; analysts flagged potential review delays during the federal slowdown.
Crypto asset manager 21Shares filed Form 8-A(12b) with the U.S. Securities and Exchange Commission for its proposed Solana Exchange-Traded Fund (ETF), a move widely seen as the final procedural step before trading. The after-hours filing named the ticker VSOL and positioned the fund for Cboe BZX listing once approved.
Industry observers described the registration as the last step before launch. Form 8-A(12b) enables public trading after SEC effectiveness, implying the fund could go live following final administrative checks.
21Shares Moves its Solana ETF Closer to Cboe BZX Listing
According to the updated documentation, the 21Shares Solana ETF mirrors Solana’s market performance while incorporating staking-based yield, a first for a U.S.-regulated crypto fund. The ETF plans to delegate SOL via trusted validators (e.g., SOL Strategies) under compliance controls.
To support redemptions, the fund introduces a 5% liquidity buffer to account for unbonding periods and to minimize delays during market swings. Custody of SOL will be handled by Gemini Trust and Coinbase Custody, both regulated providers that offer insured asset protection.
Related: Bloomberg Analyst Says Solana ETF Approval Could Come Any Day
The ETF lists a 0.30% management fee, covering operational costs excluding extraordinary legal or regulatory expenses. That rate sits among the lowest across proposed U.S. crypto ETFs, aiming to appeal to retail and institutional buyers.
Structure combines an ETF wrapper with on-chain staking yield
The design pairs a traditional ETF wrapper with on-chain staking so the portfolio can earn SOL rewards while tracking price. The sponsor said staking will follow policies that prioritize security, regulatory alignment, and liquidity.
Awaiting SEC Decision against Federal Slowdown
The filing falls under Generic Listing Standards, so no fixed SEC timeline applies. Analysts, including Bloomberg’s James Seyffart, noted that a partial federal government shutdown could extend the review period.
If approved, the 21Shares Solana ETF (VSOL) would introduce staking income into a regulated ETF structure, reflecting growing institutional interest in blockchain-based yield and deeper integration of Solana’s network economics with traditional markets.
Related: Solana Eyes Q4 Rally as SEC Loosens ETF Rules and SOL Treasuries Now Close to $4 Billion
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