21Shares has recently applied for regulatory approval to launch an ETF linked to the live price of Solana (SOL), hot on the heels of VanEck's similar move just a day earlier. This follows the SEC's green light for Bitcoin and Ethereum spot ETFs earlier this year. Ethereum's spot ETFs are already in the final stages of launch, with issuers completing their paperwork with the SEC. Both 21Shares and VanEck plan to list their Solana ETFs on the Chicago Board Options Exchange (CBOE), pending regulatory rule adjustments. Solana, currently ranked as the fifth-largest crypto by market cap, has seen a remarkable 16% surge in price over the past week, hitting $147.35 as of now. This surge outpaces Bitcoin's 0.7% and Ethereum's 2.5% gains during the same period, as reported by CoinMarketCap. Despite the rising interest in Solana ETFs, futures contracts for Solana aren't yet traded on the Chicago Mercantile Exchange (CME), distinguishing it from Bitcoin and Ethereum where futures-based ETFs were approved before spot products.