According to TechFlow, people familiar with the matter said that the U.S. Securities and Exchange Commission (SEC) recently discussed with potential Solana ETF issuers that Solana might be considered a security. Subsequently, the Cboe BZX exchange withdrew the relevant 19b-4 application documents. Currently, these applications are not displayed on the Cboe website or the Federal Register. VanEck's Solana ETF S-1 registration statement is still available on the SEC's EDGAR system. People familiar with the matter said that there may be new applications or revisions in the future to prove that Solana is not a security. Although Bitcoin and Ethereum ETFs have been approved, the market expects the SEC to be more cautious in approving the Solana fund.

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