The hope for a Solana-based spot exchange fund is again denying after CBOE BZX has reflected applications for several asset managers.
On January 29, Bloomberg analyst James Seyffart emphasized that CBOE BZX has submitted new 19B-4 archives for Spot Solana ETFs from Bitwise, Vaneck, 21Shares and Canary Capital, which means that the proposals for the United States Securities and Exchange Commission for his companion.
A 19B-4 application is essentially a request from a scholarship to sum up a new product, in this case a Solana ETF. It starts the assessment process of the SEC, whereby supervisors assess whether the proposal meets securities laws and is in accordance with the standards for investor protection. Approval would free the road for Solana ETFs to act on traditional stock exchanges.
If the sec rejects the proposal, exchanges are not from options – they can adjust and resubmit their applications to tackle the concerns of the regulations. This back and forth can continue several rounds, as can be seen in the case of Bitcoin ETFs before they finally received approval.
For CBOE BZX this marks the second attempt to get a Solana ETF through the SEC after the previous bid was rejected at the end of last year. At the time, Insider claimed sources claimed that the Commission had on hold of New Crypto ETF applications until Donald Trump officially took office.
The latest files arrive when the regulatory landscape switches shift under the Trump administration, which has indicated a more pro-Crypto attitude. With SEC, chairman Mark Uyeda, known for his industrial approach, which supervises the agency, the expectations for Crypto ETF approvals are rising.
Analysts believe that Solana ETFs have a better chance under the new leadership, although it is still to be seen how quickly the SEC will move through hanging applications.
Publishing issues have also tried to expand their series of crypto products with archives for spot XRP, Litecoin and Dogecoin ETFs. For example, BiWise submitted his S-1 application earlier today for an ETF tracking dogecoin.
Currently, Polymarket gamblers brought the chance of a Solana ETF approval by July 31 at 57%, but Bloomberg ETF analyst Eric Balchunas has previously speculated that Litecoin could be the following.
In the meantime, Spot Bitcoin and Ethereum have put on ETF’s billions, which shows that the demand for crypto investment products is alive and is good. The locks then finally opened the SEC Greenlit Bitcoin ETFs, with Ethereum quickly follow.
Now that Solana and other altcoins are in line for their turn, the big question of whether registrants will embrace more by crypto-supported products or let them wait at the door.
