- Cboe BZX Exchange Inc. has submitted 19b-4 applications for 4 spot SOL ETFs.
- The four ETFs are Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and the VanEck Solana Trust.
- SOL has dropped more than 5% in the past 24 hours and trades at $230.
Cboe BZX Exchange Inc., a major U.S. stock exchange operator, has submitted new filings on behalf of firms looking to launch spot Solana exchange-traded funds (ETFs). The filings include 19b-4 submissions for the Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and VanEck Solana Trust..
A 19b-4 filing is a key document required for regulatory approval. Once accepted by the U.S. Securities and Exchange Commission (SEC) and published in the Federal Register, it sets the timeline for the agency’s decision. Additionally, an S-1 filing must be submitted before these ETFs can officially trade on exchanges.
Renewed Solana ETF Push Under Pro-Crypto Leadership
Last year, the SEC rejected initial spot Solana ETF applications. However, the landscape has shifted following the departure of former SEC Chair Gary Gensler. With Mark Uyeda now serving as Acting Chair, optimism is growing that a pro-crypto stance under the Trump administration could improve the chances of approval.
Related: BlackRock Seeks ETF Rule Change as Grayscale Makes New Filings
Meanwhile, Tuttle Capital has filed for multiple leveraged crypto ETFs, expanding beyond Solana to include altcoins like Litecoin and XRP, as well as meme coins such as TRUMP and BONK.
SOL Price Analysis: Can Bulls Reclaim Higher Levels?
At the time of writing, Solana (SOL) is trading at $230, down 5.43% in the past 24 hours. The token faces strong resistance between $250 and $260, following its recent all-time high of $294.33 just 10 days ago, according to CoinMarketCap data.
Technical Indicators Signal Mixed Market Sentiment
- RSI (Relative Strength Index): Currently at 51.88, indicating that bulls still have control. However, the downward slope suggests that sellers are gaining momentum.
- MACD (Moving Average Convergence Divergence): Shows a bearish divergence on the daily chart, hinting at a potential retest of support levels.
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