Asset manager Canary has filed an updated S-1 application seeking regulatory approval for a spot Solana exchange-traded fund. The amended submission to the U.S. Securities and Exchange Commission advances the proposal through formal review channels.
Though specifics of the revisions remain undisclosed, such filings typically address regulatory feedback or refine operational frameworks. This marks continued momentum for introducing institutional-grade Solana investment vehicles amid growing crypto diversification.
If approved, the fund would enable traditional market exposure to Solana’s native token SOL without direct asset custody. The development underscores escalating competition to expand regulated cryptocurrency products beyond flagship assets like Bitcoin and Ethereum.