The Cboe Global Markets has filed 19b-4 forms for spot Solana exchange-traded funds (ETFs), as rumors run rife across the market that BlackRock could also be gearing up to seek approval for a SOL ETF.
The Solana community eagerly awaits a Solana ETF to launch in the market and make Solana part of the “Big Three” after Bitcoin and Ether ETFs secured the SEC’s greenlight.
CBOE Files 19b-4 Forms for Solana ETFs
On Monday, the CBOE Global Markets filed with the US Securities and Exchange Commission (SEC) to list Solana ETFs. The CBOE filing follows filings by VanEck and 21Shares to offer spot Solana ETFs.
A spot altcoin ETF is yet to start trading in the US market despite the SEC approving Ether ETFs in May. The final approvals for these products have yet to happen.
The applicants are now working on submitting the final S-1 registration statements for the products to start trading on US exchanges.
In its recent filing, the CBOE noted that Solana was well-suited to be the next spot crypto product in the market, given the speed and efficiency of the Solana blockchain.
The exchange also stated that Solana was resistant to manipulation.
It stated,
Much like Bitcoin and ETH, the Exchange believes that SOL is resistant to price manipulation and that ‘other means to prevent fraudulent and manipulative acts and practices’ exist to justify dispensing with the requisite surveillance sharing agreement.
Deadline Set For March 2025
Now that the CBOE has filed for 19b-4 forms for 21Shares and VanEck spot Solana ETFs, the US securities regulator is on a deadline to approve or deny these products.
The SEC’s rulebook requires that the agency decide on the matter within 240 calendar days. Therefore, this will bring the first deadline for a decision on these ETF products to mid-March 2025.
According to Bloomberg ETF analyst Eric Balchunas, one of the determining factors on whether the Solana ETFs will get approval is who will win the US Presidential elections in November.
Balchunas noted that these ETFs could launch if Donald Trump wins the elections.
Launching a spot at Solana ETF could help propel Solana’s prices. According to some analysis, the ETF buzz could help propel Solana by nearly nine times. SOL was trading at $142 as of 03:56 a.m. EST after a 7.2% gain in 24 hours.
Is a BlackRock Solana ETF Next?
Besides the news about the CBOE filing for 19b-4 forms for spot Solana ETF products, SOL is also gaining amid rumors that BlackRock could launch a Solana ETF soon.
According to some crypto community members on X, the world’s largest asset manager, BlackRock, is set to file for a Solana ETF, which could see the price going parabolic and SOL rallying by 100 times.
BlackRock has dipped its toes into the cryptocurrency industry countless times. The asset manager has filed for both spot Bitcoin and Ethereum ETF products.
