Cboe BZX Exchange has reignited hopes for a Solana-based spot exchange-traded fund (ETF) by resubmitting a fresh batch of applications on behalf of four major investment firms: Bitwise, VanEck, 21Shares, and Canary Capital.
On Jan. 29, Bloomberg analyst James Seyffart reported that Cboe BZX submitted new 19b-4 filings for spot Solana ETFs, effectively restarting the Securities and Exchange Commission’s review process.
A 19b-4 filing is a request by an exchange to list a new product, in this case, a Solana ETF, and initiates the SEC’s assessment of whether the proposal complies with securities laws and investor protection standards. Approval would enable Solana ETFs to trade on traditional stock exchanges.
Even if the SEC initially rejects the proposal, exchanges have the option to revise and resubmit their applications to address any regulatory concerns. This iterative process can involve multiple rounds of submissions, as observed in the case of Bitcoin ETFs prior to their eventual approval.
