Canary Capital has filed for a Solana ETF, marking its third crypto ETF application this month.
Solana’s strong transaction efficiency and stablecoin growth strengthen its appeal in DeFi. The
SEC’s 2023 classification of Solana as a security raises regulatory challenges for the ETF.
Canary Capital has submitted an application to the U.S. Securities and Exchange Commission (SEC) for a Solana ETF, marking its third crypto ETF application within the past month. The application follows previous filings for a Litecoin ETF and an XRP Ripple ETF, along with the current launch of an HBAR Trust.
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James Seyffart, who has closely followed these filings, notes that Canary has not yet launched a live ETF, despite a series of applications in past months. This filing indicates a continued focus on building digital asset-based financial products that could soon provide investors with a regulated path to access Solana’s native assets.
Solana’s DeFi Growth and Industry Position
Steven McClurg, a representative of Canary Capital, described Solana as a “battle-tested frontrunner” within the competitive L…
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