- 21Shares has filed a Solana (SOL) ETF, with its Core Solana ETF software coming a day after VanEck’s Solana Belief.
- SOL price hovered round $142 after the information, having soared after VanEck’s submitting on Thursday.
The Solana (SOL) ETF mania is selecting momentum with yet one more issuer submitting for a spot Solana ETF.
A day after VanEck filed for the same exchange-traded fund with the US Securities Change Fee (SEC), 21Shares has submitted its personal software.
21Shares recordsdata for Solana ETF
In accordance with the submitting, the 21Shares Core Solana ETF will commerce on the Cboe BZX Change and “track the performance of SOL, the native digital asset of the Solana blockchain.”
“21Shares is excited by the potential for an exchange traded product (ETP) in the US that provides access to the Solana ecosystem. We believe this is a necessary step for the crypto industry and it holds true to our mission to bring to market easily accessible financial products centered around crypto assets,” the agency wrote on X.
VanEck first to file SOL ETF within the US
VanEck and 21Shares at the moment are the primary two asset managers to file for SOL spot ETFs within the US and could possibly be a matter of who subsequent because the trade gears up for the spot Ethereum ETFs. The SEC permitted Ether ETFs in Could and consultants say the ultimate nod earlier than merchandise hit exchanges may come as quickly as subsequent week.
For Solana, Bloomberg senior ETF analyst Eric Balchunas says that it might be too early to pin a date to potential approval. Nevertheless, “the odds of a Solana ETF being approved” in subsequent 12 months could enhance considerably if Trump wins this yr’s election.
SOL price amid ETF information
On Thursday, Solana price rose sharply because the market reacted to VanEck’s submitting.
On Friday, the cryptocurrency pared many of the positive factors because the broader ecosystem heaved beneath continued draw back stress.
Nevertheless, as Bitcoin struggled beneath $61k and Ether battled close to $3,400, SOL was seeking to rebound above $142. In contrast to BTC and ETH that had been down 4.5% and three% respectively over the previous week, Solana’s price was up 8%.