21Shares registered S-1 with the US Securities and Exchange Commission (SEC) for the Solana ETF on June 28. The fund will be called the 21Shares Core Solana ETF. This is the second application the SEC has received for the Solana ETF, after VanEck filed on June 27.

The proposed ETF will trade on the Cboe BZX Exchange. Coinbase will be the custodian of the fund's Solana (SOL) shares, which will be separately insured. The Fund will not participate in the endorsement or equitization of SOL. The value of SOL in the fund will be determined daily at 4:00 ET.

21Shares is a financial technology company specializing in crypto, headquartered in Zurich, Switzerland. The company already offers Ethereum (ETH) and Bitcoin (BTC) ETFs in the United States.

SOL's price increased rapidly from $139 to $150 following news of VanEck's filing. Price fixed at $141.58 at 12:00 pm ET, according to CoinMarketCap.

This is a developing story, and further information will be updated as it becomes available.#CryptoNews🚀 Comment below on your opinion about SOL!