The options exchange CBOE has reignited the race for Solana ETFs by filing applications for four leading asset managers in the US.
CBOE's Solana ETF Proposals
Asset managers in the US have continued their efforts to establish Solana ETFs. In 2024, CBOE filed proposals to list Solana ETFs for VanEck and 21Shares, which were removed from the site. In mid-November, new applications were filed for VanEck, Bitwise, Canary, and 21Shares, but were rejected again in December. The latest filings on January 28 will determine whether they are the last attempt or just another step in the process.
Solana Status Debate
Analysts believe the odds for Solana ETF approval were low due to the former SEC leadership. With a more crypto-friendly leadership now, chances might have increased. A significant aspect remains the classification of SOL as a security or commodity, affecting the ETF launch.
Future of Solana ETFs
Upcoming SEC decisions about Solana ETFs could significantly impact the crypto market. The token SOL's designation and final classification will be critical factors in resolving this situation.
The coming weeks will reveal whether Solana ETFs will be approved or if this initiative will join the list of many unsuccessful applications.
