The SEC yesterday admitted several applications for Solana-based exchange-traded products, indicating progress toward bringing new altcoin-based financial instruments to market.
Cboe BZX Exchange filed proposed rule change proposal forms to list and trade shares of spot Solana ETFs from prospective issuers 21Shares, Bitwise, Canary Capital, and VanEck.
Applications filed last month by Cboe BZX Exchange for these companies' spot Solana ETFs were rejected, but the companies are now reapplying.
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With a seemingly crypto-friendly US administration since President Donald Trump's term in office, there is growing momentum for altcoin ETFs. Many anticipate the approval of ETFs tracking XRP, Litecoin, Dogecoin and Solana.