Cboe BZX Proposes Solana ETF Listing Amid SEC Delays and Regulatory Uncertainty
Main Idea
Cboe BZX exchange has filed to list the Invesco Galaxy Solana ETF, aiming to provide regulated U.S. market access to Solana tokens despite SEC delays on crypto staking ETFs.
Key Points
1. The ETF would track the Lukka Prime Solana Reference Rate, updated every 15 seconds for accurate pricing.
2. The fund plans to stake a portion of its SOL holdings, raising concerns about validator centralization and market manipulation.
3. The SEC has postponed decisions on several crypto staking ETFs, including Invesco Galaxy’s Ethereum ETF, citing the need for further review.
4. Cboe BZX and NYSE Arca have proposed streamlining crypto ETF approvals, advocating for automatic listing of certain products without case-by-case reviews.
5. The filing represents a pivotal step for regulated crypto products, but investors should monitor SEC decisions as the regulatory landscape evolves.
Description
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