The Chicago Board Options Exchange (Cboe) has officially requested the Securities and Exchanges Commission (SEC) to allow asset managers VanEck and 21Shares to introduce a Solana-based exchange-traded fund (ETF) to the market. This comes after the exchange submitted 19b-4 filings with the SEC on Monday, seeking approval to list potential spot Solana ETFs.

If approved, this would mark a significant development in the crypto investment space, as Solana has been gaining traction as the third most actively traded cryptocurrency after Bitcoin and Ether. Cboe, known for listing various spot bitcoin ETFs, is now looking to expand its offerings to include Solana-based products to cater to the increasing investor interest in this digital asset.

Industry experts anticipate that the SEC may approve ether ETFs in the near future, with many issuers submitting amended S-1 forms recently. VanEck and 21Shares took the necessary steps to list an ETF by filing the S-1 in June and following up with the 19b-4 submission to inform the SEC of the proposed rule change by the exchange.

Cboe’s global head of ETP listings, Rob Marrocco, highlighted the growing demand for Solana investments and expressed confidence in the SEC’s review process for these potential ETFs. The 240-day window for the regulator to make a decision on the products will begin once the filing is acknowledged, indicating that a final decision could be expected in the coming months.

In other news, CoinDesk, a leading media outlet covering the cryptocurrency industry, recently underwent updates to its privacy policy and terms of use. The acquisition of CoinDesk by the Bullish group in November 2023 has strengthened its position as a trusted source of news and analysis in the digital asset space. Journalists at CoinDesk adhere to strict editorial policies to uphold journalistic integrity and independence.

Helene, a reporter based in New York, specializes in covering Wall Street, spot bitcoin ETFs, and crypto exchanges. She brings a wealth of experience and insights to her reporting, drawing on her background in business and economic reporting from New York University. Helene’s contributions to CoinDesk’s Markets Daily show and appearances on major news platforms demonstrate her expertise in the evolving cryptocurrency landscape.

As the SEC reviews the filings for Solana-based ETFs, investors and industry stakeholders will be closely monitoring the developments to gauge the potential impact on the market. The approval of these ETFs could open up new opportunities for investors seeking exposure to emerging digital assets like Solana, further diversifying their portfolios in the ever-evolving crypto space.