Following VanEck, 21Shares Files Solana ETF with SEC

Bittime - A Solana ETF is getting closer, with 21Shares filing an S-1 form with the United States SEC, following a similar move from VanEck. Read this article to find out!

Solana ETF Filing

Investment firm 21Shares recently filed an S-1 form with the SEC to launch a Solana ETF. This is the second Solana ETF filing and confirms predictions that VanEck's June 27 filing would open the door to competitors looking to launch Solana-based funds.

Trading and Exchange

21Shares' planned Solana ETF will trade on the Cboe BZX exchange, and swaps will be in the form of SOL tokens. This is similar to other exchange-traded products for spot market commodities other than SOL. 

21Shares, based in Zurich, Switzerland, already manages physically backed exchange-traded products with more than $846 million in assets under management, as well as a Bitcoin ETF that also trades on the Cboe BZX exchange.

Solana ETF Outlook

With this filing, 21Shares and VanEck demonstrate their confidence in Solana's future as a major crypto asset. It also shows that major investment firms see significant opportunities in introducing new financial products that could attract traditional investors to the crypto world.

Amid regulatory challenges, this move remains an important milestone in Solana's journey to gain wider recognition and acceptance in global financial markets. If approved, this ETF will not only increase Solana's liquidity but also strengthen the crypto's position in traditional investment portfolios.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way through Bittime. I'm done is one of the best crypto applications in Indonesia which is officially registered with Bappebti. 

To be able to buy crypto assets on Bittime, make sure you have registered and completed identity verification. Apart from that, also make sure that you have sufficient balance by depositing some funds into your wallet. For your information, the minimum purchase of assets on Bittime is IDR 10,000. After that, you can purchase crypto assets in the application. 

Monitor graphic movement price Bitcoin (BTC), Ethereum (ETH), Solana (SOL) and other cryptos to find out today's crypto market trends in real-time on Bittime.