VanEck Stays Committed to Solana ETF Despite Cboe’s Withdrawal of Filing
VanEck remains steadfast in its plans to launch a Solana exchange-traded fund (ETF), continuing discussions with regulators, according to Matthew Sigel, VanEck’s head of digital assets research.
Speculation about the future of VanEck’s Solana ETF emerged after Cboe Global Markets removed a regulatory filing related to the fund from its website. However, Sigel clarified that this move does not mark the end of VanEck’s efforts.
The removed filing, known as the 19b-4, was submitted by Cboe on July 8 to seek approval from the U.S. Securities and Exchange Commission (SEC) for VanEck’s Solana ETF. Despite its disappearance, Sigel noted that the S-1 prospectus for the fund remains active, signaling that VanEck is still pursuing the ETF.
The removal of the Cboe filing has sparked speculation about the ETF’s prospects, with some experts questioning whether it will be approved under the current SEC administration. Scott Johnsson, general counsel at Van Buren Capital, suggested that the SEC might have concerns about categorizing Solana as a commodity, potentially complicating the approval process.
Nonetheless, VanEck is determined to move forward with its Solana ETF proposal, asserting that Solana, like Bitcoin and Ethereum, should be recognized as a commodity.
