4 months ago
The filings for spot Solana (SOL) exchange-traded funds (ETFs) from VanEck, 21shares, Bitwise, and Canary Capital were officially added to the Federal Register connected Feb. 18. The US Securities and Exchange Commission (SEC) present has 240 days to o.k. oregon contradict the filings.
Additionally, the registry for the Grayscale filing was added connected Feb. 12, which would see its Solana ETF successful the batch that could beryllium approved until Oct. 16.
The Grayscale Solana ETF amendment was acknowledged by the SEC connected Feb. 6, and the 4 different filings were acknowledged connected Feb. 11.
SOL is presently successful a spot wherever the buzz of an ETF support is simply a much-needed boost. Following the debacle of the LIBRA memecoin, promoted by Argentinian President Javier Milei, SOL crashed up to 42% year-to-date arsenic of Feb. 18.
According to Bloomberg ETF analysts Eric Balchunas and James Seyffart, spot Solana ETFs have 70% support odds.
Notably, the analysts highlighted that these likelihood could emergence if the lawsuits deeming SOL arsenic information are extinguished. This is simply a apt result considering the existent SEC stance of halting lawsuits against crypto firms.
Wave of ETF approvals
Seyffart and Balchunas also predicted successful precocious 2024 that a question of crypto ETFs, including SOL, Hedera (HBAR), Litecoin (LTC), and XRP, would deed the market.
The estimation is related to the changing regulatory scenery successful the US pursuing President Donald Trump’s predetermination for a 2nd term.
On Feb. 19, Canary Capital announced an Axelar (AXL) trust, perchance adding different plus to the support queue.
According to the firm’s announcement, the Canary AXL Trust volition supply organization and accredited investors with unafraid vulnerability to AXL, the autochthonal crypto of the Axelar Network. Canary has selected Coinbase arsenic the trust’s designated custodian.
The spot is the archetypal concern spot dedicated to a wide blockchain interoperability protocol, emphasizing the expanding request for seamless cross-chain connectivity successful the Web3 ecosystem.
Steven McClurg, CEO of Canary Capital, stated:
“With Axelar driving immoderate of the astir precocious interoperability solutions successful Web3, we spot successful AXL a important accidental for organization investors. As request for crypto vulnerability grows, we stay committed to providing structured, secure, and forward-thinking concern vehicles that align with blockchain’s future.”
By aboriginal 2025, Axelar ranked arsenic the 11th largest blockchain by full worth locked (TVL), surpassing $1 billion.
As interoperability continues to signifier the blockchain landscape, Axelar is expected to grow its scope and integrate with networks specified arsenic XRP Ledger, Hedera, Stellar, Sui, Solana, and Bitcoin.
The station Solana ETF filings participate Federal Register, imaginable support acceptable for October appeared archetypal connected CryptoSlate.
English (US) 