21Shares recordsdata for Solana (SOL) spot ETF

• 21Shares has filed a Solana (SOL) ETF, with its Core Solana ETF utility coming a day after VanEck’s Solana Belief.
• SOL value hovered round $142 after the information, having soared after VanEck’s submitting on Thursday.

The Solana (SOL) ETF mania is selecting momentum with yet one more issuer submitting for a spot Solana ETF.

A day after VanEck filed for the same exchange-traded fund with the US Securities Alternate Fee (SEC), 21Shares has submitted its personal utility.

21Shares recordsdata for Solana ETF

In keeping with the submitting, the 21Shares Core Solana ETF will commerce on the Cboe BZX Alternate and “observe the efficiency of SOL, the native digital asset of the Solana blockchain.”

“21Shares is happy by the potential for an change traded product (ETP) within the US that gives entry to the Solana ecosystem. We imagine it is a essential step for the crypto business and it holds true to our mission to carry to market simply accessible monetary merchandise centered round crypto belongings,” the agency wrote on X.

VanEck first to file SOL ETF within the US

VanEck and 21Shares are actually the primary two asset managers to file for SOL spot ETFs within the US and may very well be a matter of who subsequent because the business gears up for the spot Ethereum ETFs. The SEC accepted Ether ETFs in Could and consultants say the ultimate nod earlier than merchandise hit exchanges might come as quickly as subsequent week.

For Solana, Bloomberg senior ETF analyst Eric Balchunas says that it could be too early to pin a date to potential approval. Nonetheless, “the chances of a Solana ETF being accepted” in subsequent 12 months could enhance considerably if Trump wins this yr’s election.

SOL value amid ETF information

On Thursday, Solana value rose sharply because the market reacted to VanEck’s submitting.

On Friday, the cryptocurrency pared a lot of the beneficial properties because the broader ecosystem heaved beneath continued draw back strain.

Nonetheless, as Bitcoin struggled under $61k and Ether battled close to $3,400, SOL was seeking to rebound above $142. In contrast to BTC and ETH that had been down 4.5% and three% respectively over the previous week, Solana’s value was up 8%.