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Solana ETF Filings Vanish, Sparking Withdrawal Rumors

17.08.2024 20:00 1 min. read Alexander Stefanov
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Solana ETF Filings Vanish, Sparking Withdrawal Rumors

Filings for two Solana-based ETFs, designated SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067, have disappeared from the public domain, leading to speculation as to whether they have been withdrawn.

These ETFs, filed by Cboe in June 2024 and followed by 19b-4 forms filed in July, have yet to receive a notice of filing from the U.S. Securities and Exchange Commission (SEC), adding to the uncertainty over their approval.

In contrast, Brazil is moving forward with its own Solana-backed ETF, led by QR Asset and Vortx. Although awaiting final approval from the Brazilian Stock Exchange, this ETF could have a significant impact on Brazil’s financial market.

In the U.S., however, the Securities and Exchange Commission’s cautious approach to Solana as a financial security casts doubt on the future of Solana-based ETFs.

Large asset managers like BlackRock have shown minimal interest, reflecting broader skepticism about the potential impact of these products on the U.S. crypto market. However, other SOL-related proposals are in development in both the U.S. and Brazil, although their success remains uncertain.

With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.

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