According to Odaily, Cboe has submitted a 19b-4 form to the U.S. Securities and Exchange Commission (SEC) for the listing of the VanEck Solana ETF. Nate Geraci, President of The ETF Store, commented on the submission. He stated that Cboe has submitted the 19b-4 forms on behalf of both VanEck and 21Shares Solana ETF. Once these documents are confirmed by the SEC, the decision-making clock will start ticking.
The submission of these forms is a significant step in the process of listing an ETF. It indicates that the necessary paperwork has been completed and submitted for review. The SEC will now examine the documents and make a decision on whether or not to approve the listing. This process can take some time, and the decision-making clock referred to by Geraci is a metaphor for this period of review and decision-making.
The VanEck Solana ETF is a significant development in the world of cryptocurrency. Solana is a high-performance blockchain that supports fast, secure, and scalable decentralized apps and crypto-currencies. The listing of a Solana ETF by a major exchange like Cboe would be a significant endorsement of the technology and could potentially lead to increased investment and adoption of Solana-based applications and currencies.