Canary’s Solana ETF Moves Forward in SEC Review

Canary Capital has officially filed for a Solana (SOL) exchange-traded money (ETF), marking the 2nd specified filing aft Grayscale’s connection past week.

In the regulatory filing, the Securities and Exchange Commission (SEC) invited nationalist remark connected the “Canary Solana Trust,” a projected exchange-traded money (ETF) that would integrate SOL concern into the mainstream fiscal industry.

The SEC has present opened a 21-day nationalist remark period, aft which it volition either approve, deny, oregon widen the determination deadline.

Many experts judge that Solana (SOL) and different altcoins volition get their ain ETFs this year, though it’s unclear erstwhile and successful what order. The SEC present seems much unfastened to crypto than it was nether its erstwhile chair, Gary Gensler.

If approved, this would let mainstream investors to bargain Solana done accepted fiscal markets, akin to however Bitcoin ETFs work. Grayscale’s Solana ETF is somewhat up successful the process. Its result could bespeak however the SEC volition grip Canary’s application.

Also Read: SEC Moves Forward connected Grayscale’s Spot Solana ETF Bid