Golden Finance reported that 21Shares is the second company to submit the SOL exchange-traded fund to the U.S. Securities and Exchange Commission. Like VanEck, the company also believes that Solana's native token should be considered a commodity. It is reported that the 21Shares SOL ETF funds will be managed by Coinbase Custody. 21Shares Legal Director Andrew Jacobson said that 21Shares' launch of the Solana ETF is a necessary step for the crypto industry. Although there is a legal precedent for adding crypto tokens to CME futures contracts, it should not be the only criterion for ETF qualifications. Many cryptocurrencies meet the conditions for tradable ETFs.