Cboe BZX refiles for Solana ETFs on behalf of four issuers

Cboe BZX Exchange has resubmitted filings on behalf of four asset managers looking to list a spot Solana exchange-traded fund (ETF) in the US this year.

The exchange refiled 19b-4 filings for spot Solana SOL $230.97 ETFs from Bitwise, VanEck, 21Shares and Canary Capital on Jan. 28 after the Securities and Exchange Commission reportedly rejected the applications late last year.

The refreshed filings effectively restart the SEC’s review process under the regulator’s new, more crypto-friendly acting chair, Mark Uyeda.

They also better position Solana to become the third cryptocurrency available through a spot ETF listed on US stock exchanges, following products tracking Bitcoin BTC $102,183 and Ether ETH $3,126 launched last year.

Source: James Seyffart

Asset managers have also filed for spot XRP XRP $3.09 , Litecoin LTC $113.97 and even Dogecoin DOGE $0.3274 ETFs, with analysts saying issuers are testing what crypto products will be approved under a Trump-era SEC.

Bloomberg ETF analyst Eric Balchunas believes a Litecoin product may be next in line to win SEC approval, as those applications are reportedly already being actively reviewed by the regulator.

Financial services firm JPMorgan estimated an approved spot Solana ETF could attract between $3 billion and $6 billion in net assets over the first year — a prediction Balchunas said was a fairly “reasonable guess.”

VanEck was the first asset manager to submit a 19b-4 application for a Solana ETF with the SEC on June 27, shortly followed by 21Shares on June 28 and Canary Capital in late October.

Bitwise and Grayscale also filed for a spot Solana ETF following Donald Trump’s election win in November.

The new SEC has already revoked past crypto-related actions made under Gary Gensler’s leadership, including canceling a rule that asked financial firms holding crypto to record them as liabilities on their balance sheets.

It came after the SEC announced a crypto task force unit dedicated to developing a framework for digital assets, which is led by SEC Commissioner Hester Peirce.