🔥🔥🔥BREAKING: 21Shares Races To Launch Solana ETF

An S-1 registration form for a Spot Solana ETF was submitted with the US Securities and Exchange Commission (SEC) on Friday by investment company 21Shares, marking a significant milestone for the cryptocurrency market.

In a sign of increasing interest in Solana as a possible rival to the soon-to-be-launched Ethereum ETF market, which is planned to start trading in July, the 21Shares application followed a similar submission by Bitcoin ETF issuer and asset management VanEck on Thursday.

21Shares Debuts Core Solana Exchange-Traded Fund
According to the document, the 21Shares Core Solana ETF will be able to provide beneficial interest common shares that may be traded on the Cboe BZX Exchange.

An easy and inexpensive way to get exposure to SOL without actually investing in the asset is via this investment vehicle, whose goal is to follow SOL's performance. An exchange-traded fund (ETF) will hold shares of SOL and value them daily based on the index.

Sponsored by 21Shares, the Trust will be administered by CSC Delaware Trust Company. The Trust's SOL will be held by Coinbase Custody Trust Company, which will act as custodian.

After the first ETF announcement, the price of SOL consolidates.

These registrations show that there is a growing desire for financial products that expose Solana's digital assets, even if the SEC has to examine and approve an ETF before it can happen.


#Solana #SOL $SOL #etf