Solana ETF Race Intensifies with Cboe Refilings

Cboe BZX Reignites Solana ETF Race with New Filings

• Cboe BZX Exchange has submitted new applications for Solana-based ETFs on behalf of four major investment firms.
• The SEC will restart its review process for these spot Solana investment products.
• Previous applications were withdrawn last year at the SEC’s request.
• VanEck and Canary are seeking approval under commodity-based trust frameworks, arguing that SOL qualifies as a commodity.
• Solana is the third-largest cryptocurrency, with a market capitalization exceeding $111 billion.

The Cboe BZX Exchange has filed new applications for Solana-based ETFs, prompting the SEC to restart its review process. These filings aim to classify SOL as a commodity, with Solana being the third-largest cryptocurrency by market cap at over $111 billion.