Solana Soars 10%, Reaches New All-Time High Market Cap: What Is Going On?
Solana (CRYPTO: SOL) is up 10% on the day and closing in on its all-time high as new Solana spot ETF filings indicate continued institutional interest.
What Happened: Eleanor Terrett of Fox Business on Thursday tweeted that the SEC is reportedly engaging with issuers interested in launching a Solana spot ETF, with progress being made on S-1 applications, citing sources familiar with the matter.
Issuers like VanEck, 21Shares and Canary Funds have already filed S-1s, while Bitwise recently announced its intent to do so.
Exchanges like Cboe Global Markets (BATS:CBOE) are expected to submit 19b4 filings on behalf of these issuers soon, a key step in seeking SEC approval to list these ETFs.
Once filed, the SEC has 240 days to approve or deny the products. However, …
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