Canary just filed for a Solana ETF, following Grayscale. SEC is reviewing, and a decision could shape future altcoin ETFs.
Canary Capital is making moves in the crypto space by officially filing for a Solana (SOL) exchange-traded fund (ETF), following Grayscale’s similar filing last week. This marks a step forward in bringing Solana into mainstream finance, with the SEC now reviewing the “Canary Solana Trust.”
The SEC has opened a 21-day public comment period, giving the public a chance to weigh in. After that, they’ll decide whether to approve, deny, or extend the decision. A lot of crypto experts are hopeful that Solana and other altcoins will get their own ETFs this year, but no one’s sure exactly when that will happen or in what order. The vibe under the SEC’s new leadership seems more open to crypto compared to when Gary Gensler was in charge.
If Canary’s ETF gets the green light, it’ll make it easier for traditional investors to buy Solana the same way they buy Bitcoin through ETFs. Grayscale’s Solana ETF is a bit ahead in the process, and its outcome could give us a glimpse of how the SEC might handle Canary’s application. It’s an exciting time for Solana and altcoins in the finance world!
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