Asset manager 21Shares has advanced its plans to bring a Solana spot exchange-traded fund (ETF) to market by submitting a revised S-1 registration statement to the U.S. Securities and Exchange Commission (SEC).
The filing, initially submitted in the latter part of the previous year, signifies ongoing efforts to secure regulatory approval for the proposed ETF. If approved, the product will offer investors exposure to Solana’s native token (SOL) directly through traditional brokerage accounts, bypassing the technical hurdles of managing private wallets.
Historically, the SEC has approached spot cryptocurrency ETFs with caution, citing concerns over market surveillance and potential manipulation risks within the underlying crypto asset markets. A green light for this Solana-focused fund would represent a significant milestone, expanding the ecosystem beyond Bitcoin and Ethereum and indicating broader institutional interest in alternative layer-1 blockchains.
Investors seeking exposure to Solana via traditional markets are advised to monitor official SEC filings for further developments regarding the application’s progress and potential approval timeline.