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SEC barrier to Solana: They rejected

The U.S. Securities and Exchange Commission (SEC) rejected CBOE's Solana ETF 19b-4 applications on behalf of 21Shares and VanEck companies.

The U.S. Securities and Exchange Commission (SEC) rejected CBOE's Solana ETF 19b-4 applications on behalf of 21Shares and VanEck companies, The Block reported.

It was learned that the SEC has conveyed concerns to applicant companies that the SOL is a security. While the applications were turned down, it was also removed from CBOE's official website.

On the other hand, the S-1 file regarding 21Shares' Solana ETF is no longer included in the SEC's EDGAR system similar to the PAP in Turkey. VanEck's S-1 file is still in place. Matthew Sigel, director of research at VanEck, said the process was in progress.

It is stated that Solana ETFs can be approved in the first quarter of 2025 at the earliest. It is thought that the elections, especially in November, will be decisive for these ETFs. If the democrats win the elections, there is a possibility that the Solana ETF is delayed for a long time.

SOL, which approached $195 about a month ago, is trading at $145 today.$SOL