ChainCatcher news, according to Cointelegraph, Bitwise has submitted documents to the Delaware Department of State in the United States to apply for the registration of its first Solana ETF.

ChainCatcher news, The ETF Store President Nate Geraci posted on the X platform revealing that VanEck's Head of Digital Asset Research Matthew Sigel stated, "I believe the likelihood of a Solana ETF being listed by the end of next year is very high."

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas stated on the X platform that the Solana ETF application submitted by CBOE failed to pass the second step in the SEC review process, and the SEC did not confirm it, leading to the application being "declared dead" directly. As a result, exchanges have withdrawn their 19b-4 applications, although the issuer's S-1 form remains valid. Unless there is a change in the SEC leadership, the chances of this application being approved are extremely slim.

ChainCatcher news, the Brazilian Securities Commission (CVM) has approved the second Solana exchange-traded fund (ETF), which the agency disclosed in its central database.According to the CVM database, the new Solana (SOL) ETF is in the pre-operational phase and will be launched by Brazil's Hashdex (an asset management company based in Brazil managing over $962 million in assets) in partnership with local investment bank BTG Pactual.It is reported that Hashdex is an experienced player in the ETF space on the B3 stock exchange in Brazil, having launched products such as the Nasdaq Crypto Index and ETFs based on Bitcoin and Ethereum.Previously, on August 8, the CVM approved the country's first Solana ETF, issued by Brazilian asset management company QR Asset.

ChainCatcher news, according to X user SummersThings, the 19b-4 forms for the VanEck and 21Shares Solana ETF appear to have been removed from the CBOE website. The documents SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067 are no longer accessible via direct links and are no longer visible in the BZX Pending Rule Changes.Both applications were submitted on July 8, but the U.S. Securities and Exchange Commission (SEC) has never issued a notice of application regarding these submissions.

ChainCatcher news, according to CoinDesk, market observers say that the increase in trading activity and expectations for the development of Solana ETFs may be the reasons for Solana's recent strong performance.The SOL token has risen more than 18% in the past week, outperforming Bitcoin (BTC) and Ethereum (ETH), trading above $180 in early Monday trading, reaching a three-month high.Amberdata blockchain researcher Pat Doyle shared: "The Solana ecosystem is showing strong growth, evidenced by increased DEX activity, a rise in daily active users, and accumulating network fees. These strong fundamentals, combined with positive market sentiment, are driving SOL forward."

ChainCatcher news, Bloomberg's senior ETF analyst Eric Balchunas explained on social media platform X on Wednesday that the final deadline for the Solana ETF appears to be mid-March 2025. However, the most important date from now until then is November. If Biden wins, these ETFs are likely to be eliminated. If Trump wins, anything is possible.

According to ChainCatcher news, Nate Geraci, president of ETF Store, disclosed on social media that the global head of ETF listings at the Chicago Board Options Exchange (Cboe) commented on the Solana ETF 19b-4 filing, stating that Cboe is now addressing the growing interest from investors in Solana—one of the most actively traded cryptocurrencies after Bitcoin and Ethereum.

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas stated on social media that the final deadline for the Solana ETF is mid-March 2025. "But during this period, the most important date is November. If Biden wins, these ETFs are likely to be rejected. If Trump wins, anything is possible."

ChainCatcher message, according to relevant documents, Cboe has submitted the 19b-4 form to the SEC for the listing of the Solana ETF from VanEck and 21Shares.The ETF Store President Nate Geraci commented that Cboe has submitted the 19b-4 documents on behalf of the VanEck and 21Shares Solana ETF, and once the SEC confirms these documents, the decision clock will start "ticking."

ChainCatcher news, according to Decrypt, VanEck's head of digital asset research, Matthew Sigel, stated that the likelihood of VanEck applying to issue a spot Solana ETF largely depends on the outcome of the 2024 presidential election and whether Gary Gensler continues to serve as the chairman of the U.S. Securities and Exchange Commission. "Cryptocurrency voters are likely to play a significant role in this election. We have already seen changes in the regulatory environment at the level of elected officials. Several Democrats have voted in favor of cryptocurrency legislation."Sigel agreed with SEC Chairman Gary Gensler's recent comments that "Ethereum applications are progressing well," adding, "This may be the only time in three years that I agree with Gary Gensler's viewpoint."

ChainCatcher news, according to the SEC website, 21Shares has submitted the S-1 filing for the Solana ETF.

ChainCatcher news, VanEck's Head of Digital Asset Research Matt Sigel stated that the regulatory landscape in the U.S. is changing, and the chances of SOL ETF approval are greater than ever. VanEck aims to be among the first candidates reviewed by the U.S. Securities and Exchange Commission (SEC), as historically, most products have been approved on a first-come, first-served basis.

ChainCatcher news, before the application for the VanEck Solana ETF was submitted, the asset management company 3iQ also filed for a SOL ETF in Canada. If approved by the Ontario Securities Commission, the product will trade on the Toronto Stock Exchange.It is reported that the 3iQ product is a closed-end fund, which means it will offer a fixed number of shares, while the VanEck Solana ETF will allow authorized participants to create and redeem shares based on market demand.Bloomberg Intelligence analyst James Seyffart stated on X that 3iQ's Solana fund will be more similar to Grayscale Trust products.

According to ChainCatcher news, VanEck specifically pointed out a particular risk in its submitted Solana spot ETF application that was not seen in other ETF applications, namely the concentrated ownership of SOL tokens.According to VanEck's documents, at the end of November last year, the largest 100 wallets containing SOL tokens held about one-third of the circulating SOL. The document emphasizes: "Due to this concentration of ownership, significant sales or distributions by such holders may adversely affect market prices." Since the distribution of SOL tokens is not as widespread as that of Bitcoin and Ethereum, this concentrated ownership situation may become an obstacle to the approval of the VanEck Solana ETF.Additionally, VanEck listed many of the same risks in its Solana ETF application that were included in its Ethereum ETF application.

ChainCatcher news, Bloomberg ETF analyst Eric Balchunas stated on the X platform: "The likelihood of a Solana ETF being approved in the next 12 months is closely related to the possibility of a change in the U.S. presidency, and it is safe to say that both of these possibilities are higher today than they were yesterday. Although we have not provided exact numbers yet. It is still too early."