Cboe Exchange has submitted applications to the U.S. Securities and Exchange Commission (SEC) for four Solana (SOL) spot Exchange-traded Funds (ETFs). The issuers of these ETFs are VanEck, 21Shares, Canary Capital, and Bitwise. This recent development has been shared by Bloomberg’s Senior ETF Analyst, James Seyffart.
The filing comes after a CoinShares survey, which revealed that almost 20% of fund managers consider Solana to have one of the most compelling growth outlooks in the cryptocurrency market. Eliezer Ndinga, Head of Strategy at 21.co, pointed out that “Solana is telling a story that smart money is coming this way.”
Solana currently holds the title of the largest staking exchange-traded product at 21.co, with $1.4 billion in assets under management (AUM) available to European traders.
Bitcoin follows closely with $946 million AUM. Additionally, Solana makes up 38% of crypto hedge funds’ capital investments. With the growing popularity of Solana and its ecosystem, which has been boosted by the surge in meme coins, a Solana ETF could offer significant prospects for traditional investors interested in cryptocurrencies beyond Bitcoin and Ethereum.
Brazil has already listed a Solana ETF, and the SOL ETF market soared, gaining over $2.75 million during its first public listing on the Brazilian stock exchange, B3. As for market trends, Solana is currently trading at $262.78, following an 11.04% increase over the past day. The 24-hour trading volume for this popular cryptocurrency has risen by 74.63%, reaching $11.29 billion.
With an 11.09% jump, SOL’s market capitalization now stands at $124.85 billion. It remains to be seen whether the SEC will approve these Solana ETF applications. If not rejected, the final deadline for the approval is estimated to be around early August next year.
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<p>The post Cboe Files 4 Solana Spot ETFs with SEC; Investors Anticipate Potential Growth and Market Opportunities. first appeared on CoinBuzzFeed.</p>
