Cboe Exchange Submits Filing to List Fidelity Solana ETF

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SEC Filing Paves the Way for Fidelity’s Solana ETF

Cboe Submits Form 19b-4 for Solana ETF Listing

Cboe has submitted a filing to the U.S. Securities and Exchange Commission (SEC) to list shares of a Fidelity exchange-traded fund (ETF) tracking the price of Solana.

Fidelity’s Solana ETF Filing: A Major Step in SEC Approval Process

The 19b-4 form, filed on Tuesday, is a significant step in the SEC’s approval process. However, Fidelity must still file an S-1 registration statement describing the product.

Fidelity Registers Delaware Trust Entity for Solana Fund

The filing comes just days after Fidelity registered a Delaware Trust entity for its Solana fund, which will be based on the performance of the sixth-largest digital asset by market capitalization.

Solana Token’s Recent Performance

The token was recently trading at around $145, up nearly 1.2% in the past 24 hours, according to data provider CoinGecko.

Other Firms Have Also Submitted Solana ETF Filings

Grayscale, Bitwise, Canary, 21Shares, Franklin Templeton, and VanEck have also submitted filings for spot Solana ETFs. Earlier this year, Bloomberg Senior ETF Analyst Eric Balchunas predicted a 70% chance that Solana ETFs would receive a green light this year, although he would not predict the timing.

Deluge of Proposed Altcoin Funds

Those applications are part of a deluge of proposed altcoin funds, including XRP, Dogecoin, and Cardano, which have followed the wild success of spot bitcoin ETFs. These funds have generated more than $35 billion in net inflows since their approvals starting last January, and more muted achievements of spot Ethereum funds.

Fidelity’s Wise Origin Bitcoin Fund

Fidelity’s Wise Origin Bitcoin Fund has received about $11.5 billion in net flows in its more than 14 months of existence, the second most among the spot bitcoin funds.

Crypto-Backed Investment Products

According to a CoinShares report, crypto-backed investment products generated $644 million in net inflows last week, following five consecutive weeks of outflows. The rebound was largely driven by inflows to products based on Bitcoin, followed by Solana-based offerings.

Conclusion

The filing of Cboe’s 19b-4 form is a significant step in the approval process for Fidelity’s Solana ETF. With other firms also submitting filings for spot Solana ETFs, the market is poised for a potential surge in altcoin funds.

FAQs

Q: What is the purpose of the Cboe’s 19b-4 form?
A: The 19b-4 form is a filing submitted to the SEC to list shares of a Fidelity exchange-traded fund (ETF) tracking the price of Solana.

Q: What is the current market capitalization of Solana?
A: The current market capitalization of Solana is $74,183,524,393.

Q: How much has Fidelity’s Wise Origin Bitcoin Fund received in net flows?
A: Fidelity’s Wise Origin Bitcoin Fund has received about $11.5 billion in net flows in its more than 14 months of existence.

Q: What is the current price of Solana?
A: The current price of Solana is around $145.

Q: What is the purpose of the 19b-4 form?
A: The 19b-4 form is a major step in the SEC’s approval process for Fidelity’s Solana ETF.