Canary Capital has formally filed for a Solana (SOL) exchange-traded fund (ETF), marking the second such submitting after Grayscale’s proposal final week.
Within the regulatory filing, the Securities and Alternate Fee (SEC) invited public touch upon the “Canary Solana Belief,” a proposed exchange-traded fund (ETF) that will combine SOL funding into the mainstream monetary trade.
The SEC has now opened a 21-day public remark interval, after which it’ll both approve, deny, or prolong the choice deadline.
Many consultants consider that Solana (SOL) and different altcoins will get their very own ETFs this 12 months, although it’s unclear when and in what order. The SEC now appears extra open to crypto than it was beneath its earlier chair, Gary Gensler.
If authorised, this could permit mainstream buyers to purchase Solana by means of conventional monetary markets, much like how Bitcoin ETFs work. Grayscale’s Solana ETF is barely forward within the course of. Its end result may point out how the SEC will deal with Canary’s utility.
Additionally Learn: SEC Moves Forward on Grayscale’s Spot Solana ETF Bid
