Asset manager 21Shares has made significant moves in the cryptocurrency market with the announcement of its new SEC filing to create an exchange-traded fund (ETF) dedicated to the Solana cryptocurrency. The fund, called the 21Shares Core Solana ETF, promises to track the notional value of SOL trades on major cryptocurrency exchanges on a daily basis.

For the security and reliability of the ETF, Coinbase Custody Trust Company was selected as the custodian, a crucial point for investors concerned about the integrity of their investments. This is the second filing for a Solana ETF this week alone, reinforcing the growing interest in this cryptocurrency in the asset class.

Previously, VanEck, another renowned asset manager, also submitted a similar request to the SEC, seeking to launch its own Solana spot ETF. According to Eric Balchunas, senior ETF analyst at Bloomberg, the future of approval for a Solana ETF is uncertain and could be linked to significant political changes in the US. He mentions: “The chances of a Solana ETF being approved in the next 12 [meses] are closely tied to the chances of a change in POTUS and it is safe to say that the chances of both are higher today than they were yesterday”, noting that it is still too early to make accurate predictions.

Recently, the SEC discontinued its investigation into Ethereum 2.0, interpreted by Consensys, an Ethereum software company, as a sign that the agency now considers the asset a commodity. This reinforces the idea that Solana could follow suit, especially following the recent approval of a spot Ether ETF.

This context suggests a promising outlook for the classification and acceptance of Solana and other cryptocurrencies as legitimate commodities, paving the way for future regulation and investment opportunities. Investors, both novice and experienced, will continue to monitor the SEC’s decisions and their implications for the market.

At the time of publication, Solana’s price was quoted at $141.07, down 4% in the last 24 hours.

Disclaimer:

The views and opinions expressed by the author, or anyone mentioned in this article, are for informational purposes only and do not constitute financial, investment or other advice. Investing or trading cryptocurrencies carries a risk of financial loss.

Source: https://portalcripto.com.br/21shares-submete-pedido-de-etf-solana-a-sec/



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