🚀 Progress in SEC Talks on Spot SOL ETF Applications
#SEC #Solana #ETF #S1 #19b4 #cryptocurrency #VanEck #21Shares #CanaryCapital #Bitwise #SOL
According to Odaily, discussions between the U.S. Securities and Exchange Commission (SEC) and issuers of a spot Solana (SOL) Exchange-Traded Fund (ETF) have made significant progress. Fox journalist Eleanor Terrett reported on the X platform that two informed sources revealed the SEC is currently processing S-1 applications related to the ETF. These sources indicated that in the coming days, it is "very likely" that exchange representatives for potential issuers will submit several 19b-4 forms, marking the next step in the ETF approval process.
Currently, companies such as VanEck, 21Shares, and Canary Capital have already submitted their S-1 applications for the Solana ETF. Additionally, Bitwise announced its intention to file an S-1 application yesterday. This development marks a crucial phase in the potential launch of a Solana ETF, as the submission of 19b-4 forms is a critical component of the regulatory approval process. The progress in these discussions highlights the growing interest and efforts to introduce a Solana-based ETF in the U.S. market, which could provide investors with a new avenue to gain exposure to the cryptocurrency.#SEC #Solana #ETF #S1 #19b4 #cryptocurrency #VanEck #21Shares #CanaryCapital #Bitwise #SOL
🚀 SEC's Involvement in Solana ETF and Litecoin ETF Developments
#SEC #SolanaETF #LitecoinETF #GaryGensler #ETFs #cryptocurrency #CanaryCapital #XRP #S1filing #19b4 #SOL #LTC
According to Odaily, FOX Business journalist Eleanor Terrett reported on X that the Solana ETF had involvement from SEC staff, but the 19b-4 filing was subsequently rejected. This occurred a few weeks ago under the leadership of Gary Gensler, who is set to leave his position in three working days. The current status and timeline of LTC, XRP, and SOL ETFs are of interest.
Earlier today, Bloomberg ETF analyst James Seyffart noted that Canary Capital submitted an S-1 amendment for its Litecoin ETF application. While this does not guarantee approval, it may indicate that the SEC is reviewing the application. However, Canary Capital has not yet submitted the 19b-4 filing, which is crucial for initiating the approval or rejection process.
Bloomberg ETF analyst Eric Balchunas mentioned that the SEC has responded to the S-1 filing for the Litecoin ETF, supporting predictions that Litecoin might be the next cryptocurrency ETF to receive approval. Despite this, the appointment of a new SEC Chair remains a significant variable in the process.#SEC #SolanaETF #LitecoinETF #GaryGensler #ETFs #cryptocurrency #CanaryCapital #XRP #S1filing #19b4 #SOL #LTC
🚀 Cboe BZX Resubmits Applications For Solana ETFs
#CboeBZX #SolanaETFs #Solana #ETF #BlockBeats #CanarySolanaTrust #BitwiseSolanaETF #21SharesCoreSolanaETF #VanEckSolanaTrust #SEC #19b4 #SOL
According to BlockBeats, on January 29, Cboe BZX has once again submitted a series of new applications for several companies, aiming to launch spot Solana exchange-traded funds (ETFs).
On Tuesday, Cboe BZX filed 19b-4 documents for Canary Solana Trust, Bitwise Solana ETF, 21Shares Core Solana ETF, and VanEck Solana Trust. The 19b-4 documents are submitted by exchanges on behalf of issuers, and once accepted by the SEC and published in the Federal Register, they initiate the agency's review process. These ETF applications were previously rejected last year.#CboeBZX #SolanaETFs #Solana #ETF #BlockBeats #CanarySolanaTrust #BitwiseSolanaETF #21SharesCoreSolanaETF #VanEckSolanaTrust #SEC #19b4 #SOL
🚀 Market Awaits SEC Decision on Cryptocurrency ETP Amid Government Closure
#SEC #ETP #cryptocurrency #Solana #Litecoin #S1 #Form8A #DelayingAmendment #Furlough #GeneralListingStandards #USGovernmentShutdown #19b4 #8a12b
According to PANews, Multicoin Capital's Chief Legal Officer, Greg Xethalis, recently commented on the confusion surrounding the U.S. Securities and Exchange Commission (SEC) and spot Exchange-Traded Products (ETP). The market is currently in anticipation of the government's reopening. The 19b-4 application deadlines for Litecoin and Solana were October 2 and October 10, respectively. Due to the introduction of the 'General Listing Standards,' these and related applications do not require separate consideration. Although technically effective, exchanges will decide whether to list them. Typically, an S-1 registration statement must undergo accelerated review by the SEC's Division of Corporation Finance to become effective. Submitted S-1 registration statements include a 'delaying amendment' to prevent automatic effectiveness. SEC staff responsible for reviewing these products are currently furloughed, slowing the review process until the government reopens. It is conservatively estimated that Solana's spot ETP will launch within a week after the government resumes operations.
From a technical standpoint, issuers can withdraw the delaying amendment within 20 days of submitting the registration statement, allowing it to become effective. Some issuers and a few cryptocurrency ETPs have withdrawn the delaying amendment; however, this does not guarantee their launch around Halloween. Issuers must also submit Form 8-A, and exchanges need to file an 8a-12b notification to complete registration. In summary, once the U.S. government reopens or exchanges make a decision, multiple ETPs are expected to launch promptly. Therefore, the October 19b-4 application deadlines are not a concern, as these are self-regulatory organization rule deadlines, and the rule proposals have been approved. Applications for crypto assets that do not meet standards are still under review.#SEC #ETP #cryptocurrency #Solana #Litecoin #S1 #Form8A #DelayingAmendment #Furlough #GeneralListingStandards #USGovernmentShutdown #19b4 #8a12b