Cryptocurrencies

CBOE Makes Moves to Debut Groundbreaking SOL Spot ETFs!

Cboe is actively working to support the approval of a Solana spot ETF product application. Various asset managers, including VanEck and 21Shares, have submitted applications for Solana spot ETFs to the United States Securities and Exchange Commission (SEC). This reflects a growing interest in creating exchange-traded funds (ETFs) based on the Solana cryptocurrency.

In recent developments, the Chicago Board Options Exchange (Cboe) has requested the U.S. SEC to list ETFs linked to Solana from VanEck and 21Shares. This request initiates a timeline where the SEC has 240 days to either approve or deny it.

It is uncertain whether the US SEC will approve these applications as Solana’s legal status under the SEC’s purview is not clearly defined. Despite the SEC mentioning SOL as an unregistered security token in previous suits against crypto companies, some experts anticipate a favorable decision for the Solana spot ETF applications due to upcoming changes in rules and regulations under a new president. Speculation suggests that if Donald Trump becomes the new president of the USA, there may be a higher likelihood of the SEC approving the Solana spot ETF.

The current trading price of Sol coin is $139, representing a 27% increase year-to-date. However, in the last 30 days, the cryptocurrency has experienced a significant decline in trading price.

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