Several companies have submitted applications to the US Securities and Exchange Commission (SEC) seeking approval for Solana spot exchange-traded funds (ETFs), with the SEC confirming receipt and processing of the documents.
The Cboe BZX Exchange has also filed a proposed rule change to facilitate the listing and trading of Solana spot ETFs from issuers like 21Shares, Bitwise, Canary Capital, and VanEck. In the past, these firms faced rejections for their Solana ETF proposals.
However, Bloomberg ETF analysts James Seyffart and Eric Balchunas recently expressed a 70% likelihood of the SEC granting approval to the Solana ETF.
Furthermore, Franklin Templeton is preparing to enter the Solana ETF arena, having submitted registration documents for the Franklin Solana Trust in Delaware on Tuesday.
