- CBOE filed a proposal to listing Fidelity’s Solana ETF, pending SEC approval.
- It’s anticipated that SOL ETFs, if permitted, might carry inflows of over US$6B amid rising investor curiosity.
- Fidelity is becoming a member of different asset managers in racing to launch SOL ETFs, with analysts at Bloomberg predicting a 70% likelihood of SEC approval this 12 months.
The CBOE BZX Trade has requested permission from the US Securities and Trade Fee (SEC) to listing a proposed Fidelity exchange-traded fund (ETF) that holds Solana (SOL), based on a March 25 filing.
The SEC approval is pending, but when granted, buying and selling of the Fidelity Solana Fund can start on CBOE. This comes because the SEC had acknowledged a number of Solana-based ETF filings from a number of asset managers in February.
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The Solana ETF Race
Funding financial institution JPMorgan estimated in January that, when in comparison with Bitcoin and Ethereum ETFs, SOL ETFs might entice inflows of over US$6B (AU$9.52). It’s because there’s a rising urge for food for Solana-related merchandise —not simply SOL futures, that are already buying and selling on the CBOE trade.
It needs to be famous that on March 12, CBOE filed to listing one other spot Solana ETF, however sponsored by Franklin Templeton. Equally, asset supervisor Volatility Shares launched the Volatility Shares Solana ETF (SOLZ) and the Volatility Shares 2X Solana ETF (SOLT). The latter tracks SOL’s efficiency with 2x leverage.
Fidelity is now becoming a member of 21shares, Canary Capital, Bitwise, VanEck and Grayscale to launch an SOL ETF in america. If permitted, VanEck analysts estimate that SOL might hit US$520 (AU$824) by 2026.
On the subject of chances, analysts at Bloomberg Intelligence give a 70% probability that the SEC will approve a spot SOL ETF this 12 months.
Notably, one in all Solana’s greatest rivals, Sui Network (SUI), can also be within the ETF sport. As Crypto Information Australia reported, Canary Capital just lately filed with the SEC to launch a Sui ETF, which is able to enable traders to realize publicity to SUI’s efficiency.
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