Did VanEck and 21Shares pull Solana ETF applications, here’s what to expect

Solana ETF 19b-4 forms for VanEck and 21Shares are no longer visible on the CBOE website, leading to questions on whether applications were withdrawn.
Solana ETF applications were filed on July 8, exchange operator CBOE had addressed the rising investor interest in the product.
SOL hovers around $140 early on Saturday, erasing over 10% value in the last seven days.

Solana (SOL) Exchange Traded Funds (ETFs) appear to have been removed from the website of exchange operator Chicago Board Options Exchange (CBOE). It remains unclear whether the applicants withdrew the ETF applications, since the documents are no longer visible on the website.

Solana hovers under $140 at the time of writing.

Solana ETF applications likely withdrawn, SOL hovers around $140

The CBOE website no longer has the Solana ETF forms 19b-4 for VanEck and 21Shares Solana ETFs, raising concerns among SOL traders. Document links are no longer visible on the website, leading crypto traders and analyst to ask the question in tweets on X (formerly Twitter).

Forms 19b-4 for VanEck and 21Shares Solana ETFs appear to have been removed from the CBOE website.

Documents SR-CboeBZX-2024-066 & SR-CboeBZX-2024-067 aren’t accessible anymore via direct link, and are no longer visible in BZX Pending Rule Changes.

Another interesting thing is… pic.twitter.com/t81kVGJ3uH
— Summers (@SummersThings) August 16, 2024

Both ETF applications were filed on July 8, and if applications have been withdrawn it is could negatively impact the sentiment of traders. The social sentiment among traders is positive, per data from CFGI.io.

Solana dips under $140

Solana has traded sideways since mid-March per SOL/USDT daily chart. SOL trades under $140 at the time of writing. SOL is likely to erase nearly 13% value and dip to support at $121. This is a key level for the Ethereum competitor since this level has acted as resistance for over three months.

The Moving Average Convergence Divergence (MACD) indicator shows negative underlying momentum in Solana price trend.

SOL/USDT daily chart

A daily candlestick close above $145 could invalidate the bearish thesis. SOL could make a comeback to the imbalance zone above $152.

Crypto ETF FAQs

What is an ETF?

An Exchange-Traded Fund (ETF) is an investment vehicle or an index that tracks the price of an underlying asset. ETFs can not only track a single asset, but a group of assets and sectors. For example, a Bitcoin ETF tracks Bitcoin’s price. ETF is a tool used by investors to gain exposure to a certain asset.

Is Bitcoin futures ETF approved?

Yes. The first Bitcoin futures ETF in the US was approved by the US Securities & Exchange Commission in October 2021. A total of seven Bitcoin futures ETFs have been approved, with more than 20 still waiting for the regulator’s permission. The SEC says that the cryptocurrency industry is new and subject to manipulation, which is why it has been delaying crypto-related futures ETFs for the last few years.

Is Bitcoin spot ETF approved?

Bitcoin spot ETF has been approved outside the US, but the SEC is yet to approve one in the country. After BlackRock filed for a Bitcoin spot ETF on June 15, the interest surrounding crypto ETFs has been renewed. Grayscale – whose application for a Bitcoin spot ETF was initially rejected by the SEC – got a victory in court, forcing the US regulator to review its proposal again. The SEC’s loss in this lawsuit has fueled hopes that a Bitcoin spot ETF might be approved by the end of the year.

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