Cboe BZX Persists with New Solana ETF Applications Amid Hope for 2025 Approval

Cboe BZX Exchange Files New Applications for Solana ETFs Amid Hope for 2025 Approval

Cboe BZX Exchange has once again submitted a series of new applications for multiple companies, seeking to launch a spot Solana exchange-traded fund (ETF). On Tuesday, the exchange submitted 19b-4 filings for Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and VanEck Solana Trust. These filings, if accepted by the SEC and published in the Federal Register, initiate the institution's approval process. Notably, these ETF applications were previously rejected last year.

The move by Cboe BZX comes amid growing interest in Solana, a high-performance blockchain platform that has gained traction in the cryptocurrency market. The exchange's renewed effort to launch Solana ETFs suggests a continued optimism in the potential of the cryptocurrency and its underlying technology. However, the SEC's approval process for cryptocurrency ETFs has been notoriously challenging, with many applications being rejected or delayed in the past.

Cboe BZX's persistence in pursuing Solana ETFs is a testament to the exchange's commitment to the cryptocurrency market and its belief in the long-term potential of the asset class. The exchange has previously represented multiple companies in filing for spot Solana ETFs, demonstrating its dedication to the cause. As the cryptocurrency market continues to evolve, exchanges like Cboe BZX will play a crucial role in shaping its future and facilitating wider adoption.