21Shares has taken a significant step towards the introduction of a Solana (SOL) exchange-traded fund (ETF) by officially submitting the necessary documentation. The financial technology company filed a registration statement with the U.S. Securities and Exchange Commission (SEC) last Friday, proposing the “21Shares Core Solana ETF.” This ETF is poised to be traded on the Cboe BZX Exchange, pending SEC approval.

Rewinding three years, 21Shares’ European division made history by launching the first-ever Solana ETF in Europe, known as the 21Shares Solana Staking ETP (ASOL). As of June 27th, this pioneering financial instrument boasts over $846 million in assets under management.

The fintech firm emphasizes that the recent SEC filing plays a pivotal role in broadening the accessibility of cryptocurrency investments in the United States. “This filing aligns with our commitment to offering readily available financial products that focus on crypto assets, which we believe is a crucial advancement for the crypto sector,” the firm stated.

This week, 21Shares became the second entity to seek approval for a SOL ETF in the U.S. Following closely behind, investment heavyweight VanEck submitted an S-1 registration statement to the SEC on Thursday, with the aim of introducing the “VanEck Solana Trust.” Similar to 21Shares’ offering, this product would also be listed on the Cboe BZX Exchange, subject to SEC’s green light.

At the moment of reporting, SOL is valued at $141.84. The crypto asset, which currently holds the fifth position in terms of market capitalization, has experienced a nearly 4% decline over the last day.

Stay Updated –
Sign up
to receive the latest news directly in your inbox.
Explore
Price Trends
Connect with us on
X
,
Facebook
, and
Telegram
Dive into
The Daily Hodl Mix

**Disclaimer**: The views expressed on The Daily Hodl do not constitute financial advice. Before engaging in high-risk investments in Bitcoin, cryptocurrencies, or digital assets, investors are advised to conduct thorough research. It is important to note that all transactions and trades are carried out at your own discretion and risk, and you are solely responsible for any resulting losses. The Daily Hodl neither endorses the purchase nor the sale of any cryptocurrencies or digital assets, nor does it act as an investment advisor. The Daily Hodl is involved in affiliate marketing programs.