21shares has filed a registration statement for a solana exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC). The ETF will trade on the Cboe BZX Exchange and will utilize Coinbase Custody Trust Company for secure custody of SOL. Vaneck also recently filed a registration statement with the SEC to launch a solana ETF.
21shares Files for Solana ETF to Trade on Cboe BZX Exchange
Asset management firm 21shares filed Form S-1 (registration statement) with the U.S. Securities and Exchange Commission (SEC) on Friday for the 21shares Core Solana ETF (the Trust), which will trade on the Cboe BZX Exchange.
Noting that the 21shares Core Solana ETF is structured as a Delaware statutory trust, with 21shares U.S. LLC as the sponsor, the filing states:
The Trust’s investment objective is to track the performance of SOL, the native digital asset of the Solana blockchain, adjusted for the Trust’s expenses and other liabilities.
The ETF aims to offer investors exposure to SOL without direct investment in the cryptocurrency. It will use Coinbase Custody Trust Company, a regulated third-party custodian, for SOL custody. The Trust will create and redeem shares through authorized participants by depositing or transferring cash, which will then be used to buy or sell SOL as needed.
The Trust faces various risks, including volatility in SOL’s value, potential regulatory challenges, technological vulnerabilities, and market liquidity issues, the filing details. The fees include a Sponsor Fee and other operating expenses, with custody and security measures managed by the SOL Custodian.
On Thursday, asset manager
Vaneck
filed a registration statement for a spot Solana ETF called the VanEck Solana Trust. Meanwhile, 21shares, in collaboration with Ark Invest, offers the 21shares Bitcoin ETF. Its Ethereum ETF, initially known as the ARK 21shares Ethereum ETF and now called the 21shares Core Ethereum ETF, has also received SEC approval. However, the SEC has yet to approve any S-1 filings for ether ETFs.
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