CBOE Files Form 19b-4 for Solana ETF from VanEck and 21Shares

Bittime - The crypto market is buzzing again with important news regarding new ETF filings. On July 8, 2024, Cboe BZX Exchange, Inc. filed form 19b-4 with the SEC for the Solana ETF proposed by VanEck and 21Shares. 

 Cboe Proposed Submission Details

The Form 19b-4 filed by Cboe is a formal step in the regulatory process for introducing new ETFs. VanEck and 21Shares filed for a Solana ETF through Cboe, with the intent of listing and trading shares of the VanEck Solana Trust and 21Shares Core Solana ETF.  

This filing marks the start of the review process by the SEC. Once this filing is acknowledged by the SEC, the SEC will be given time to review and render a decision regarding the proposed ETF. This process usually involves a rigorous assessment of various factors, including the safety and suitability of the proposed financial product.

Potential of Solana ETF in Crypto Markets

The Solana ETF proposed by VanEck and 21Shares has the potential to provide investors with easier and broader access to Solana crypto assets. Solana, known for its high transaction speed and cost efficiency, has attracted the attention of many investors and developers in the crypto space. 

With this ETF, institutional and retail investors can have a more organized and secure way to invest in Solana without having to directly buy and hold the crypto asset.

This can increase liquidity and attract more investment into Solana, which in turn can drive the growth of the Solana ecosystem as a whole.

Awaiting SEC Decision

According to Nate Geraci, president of The ETF Store, Cboe's filing of form 19b-4 for the Solana ETF from VanEck and 21Shares is a major step in the regulatory process. Geraci said that once this filing is acknowledged by the SEC, the decision-making process will begin immediately. 

Therefore, crypto players should continue to monitor these developments as the SEC's decision will influence the next steps for the Solana ETF.

How to Buy Crypto with Bittime

You can buy and sell crypto assets in an easy and safe way via Bittime. Bittime 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. 

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