Solana exchange-traded funds may arrive on Wall Street in 2025 as issuers privately disclosed dialogue with the SEC and President Donald Trump’s administration buoyed industry hopes.
Agency staff at the U.S. Securities and Exchange Commissions engaged exchange-traded fund issuers over filings for a spot Solana (SOL) ETF, per Fox Business. Two persons with insider knowledge reportedly said that national exchanges like the CBOE may even file 19b-4 forms on behalf of firms “in the coming days.”
VanEck, 21Shares, and Canary Capital submitted respective SEC applications for spot SOL ETFs. Bitwise also revealed interest in filing S-1 documents like the three issuers.
S-1 and 19b-4 forms are the two official paperwork required to bring new ETF classes to market. Issuers typically handle the registration of securities or S-1 filings, while exchanges oversee 19b-4s, which propose rule changes to allow new listings.
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The SEC is not obligated to approve filings after receiving documents from issuers and exchanges. In August, the CBOE removed 19b-4 forms filed for VanEck and 21Shares on its website.
Uncertainty around the SEC’s view on Solana’s security status under chair Gary Gensler was pinpointed as the primary cause. However, industry leaders have noted changes in America’s regulatory winds since Donald Trump became President-elect.
Trump’s team was considering candidates for the first White House crypto post. Several pro-crypto names have emerged as top options for important roles like SEC chair and Treasury Secretary.
Heightened confidence regarding a relaxed approach to digital assets from U.S. authorities bolstered hopes of expanding the existing crypto ETF suite. Feedback from SEC agency staff raised optimism for possibly launching Solana ETFs next year.
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