21Shares has officially submitted documentation to launch an exchange-traded fund (ETF) for Solana (SOL).
The fintech company filed a registration statement with the U.S. Securities and Exchange Commission (SEC) on Friday for the “21Shares Core Solana ETF,” which, if approved, would be listed on the Cboe BZX Exchange.
Three years ago, 21Shares’ European counterpart introduced the world’s first Solana ETF in Europe, the 21Shares Solana Staking ETP (ASOL), which currently holds over $846 million in assets under management as of June 27th.
The company states that the recent SEC filing is “crucial for democratizing access to crypto in the US.”
“We believe this is a necessary step for the crypto industry and it aligns with our mission to offer easily accessible financial products focused on crypto assets.”
21Shares is the second company to file for a SOL ETF in the US this week. On Thursday, the investment giant VanEck submitted an S-1 registration statement to the securities regulator in hopes of launching its own “VanEck Solana Trust,” also to be listed on the Cboe BZX Exchange if approved by the SEC.
SOL is currently trading at $141.84. The fifth-ranked cryptocurrency by market cap has decreased by almost 4% in the last 24 hours.
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