CBOE Postponement Doesn't Halt VanEck's Solana ETF Plans
CryptoNewsTerminal Staff19 Aug, 2024
CBOE Postponement Doesn't Halt VanEck's Solana ETF Plans
Matthew Sigel, head of digital asset research at VanEck, reassured investors on Wednesday via Twitter that the withdrawal of VanEck's Solana ETF 19b-4 filing from the Cboe website does not signal its demise. In July, Cboe filed 19b-4s with the U.S. Securities and Exchange Commission (SEC) on behalf of VanEck and 21Shares for spot Solana (SOL) ETFs. The 19b-4 rule change filing is a crucial step in the approval process for new ETF products. Sigel's statement suggests that VanEck remains optimistic about the prospects of a Solana ETF, despite the CBOE's temporary withdrawal of the filing. The reasons behind the withdrawal are not yet clear, but it is possible that the Cboe is seeking additional information or clarification from VanEck before proceeding with the review process. VanEck is a major player in the ETF market, with a track record of successfully launching innovative investment products. The firm's commitment to a Solana ETF indicates its belief in the long-term potential of the Solana blockchain and its native token, SOL.
