Cboe Revives Solana ETF Push: Exchange Resubmits Filings for U.S. Approval

In a renewed bid to bring Solana-based exchange-traded funds (ETFs) to the U.S. market, the Cboe BZX Exchange has resubmitted filings for four asset managers seeking regulatory approval. This move signals growing institutional interest in Solana (SOL) as a major crypto asset, alongside the increasing demand for diversified crypto investment vehicles.

The Race for a Solana ETF

While Bitcoin ETFs have gained mainstream traction and Ethereum ETFs are under review, asset managers are now turning their focus to Solana, a blockchain known for its high-speed transactions and low fees. The resubmitted filings indicate that institutional players see Solana as a viable investment asset, potentially joining Bitcoin and Ethereum in the ETF space.

The filings were submitted by four major asset managers, though specific names have yet to be disclosed. If approved, these Solana ETFs would allow traditional investors to gain exposure to SOL without directly holding the cryptocurrency, much like Bitcoin and Ethereum ETFs.

Regulatory Hurdles: Will the SEC Approve?

The U.S. Securities and Exchange Commission (SEC) remains cautious when approving crypto-based ETFs. Key regulatory concerns include:

• Market Manipulation & Volatility – Solana’s price movements and liquidity will be scrutinized to assess potential risks.
• Decentralization & Network Stability – The SEC may examine Solana’s security, past network outages, and governance model.
• Classification as a Security – The SEC has previously hinted that certain altcoins could be considered securities, which could complicate ETF approval.

Despite these challenges, growing institutional adoption and Solana’s increasing presence in the crypto ecosystem may strengthen the case for approval.

Why a Solana ETF Matters

If approved, a Solana ETF would be a major milestone for both institutional and retail investors, offering:

• Easier Access to SOL – Investors could gain exposure through brokerage accounts instead of crypto exchanges.
• Increased Institutional Adoption – Hedge funds, pension funds, and asset managers could incorporate Solana into their portfolios.
• Greater Legitimacy for Altcoins – Approval could open doors for ETFs based on other leading altcoins like Cardano and Avalanche.

 

The SEC will now review the resubmitted filings and determine whether Solana ETFs meet regulatory standards. If approved, Solana could cement its position as a top institutional-grade crypto asset, expanding its reach in the global financial markets.

For now, the crypto industry is watching closely as the race for the first U.S.-listed Solana ETF heats up.