Solana ETF Filings Vanish, Sparking Withdrawal Rumors

Filings for two Solana-based ETFs, designated SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067, have disappeared from the public domain, leading to speculation as to whether they have been withdrawn.

These ETFs, filed by Cboe in June 2024 and followed by 19b-4 forms filed in July, have yet to receive a notice of filing from the U.S. Securities and Exchange Commission (SEC), adding to the uncertainty over their approval.

In contrast, Brazil is moving forward with its own Solana-backed ETF, led by QR Asset and Vortx. Although awaiting final approval from the Brazilian Stock Exchange, this ETF could have a significant impact on Brazil’s financial market.

In the U.S., however, the Securities and Exchange Commission’s cautious approach to Solana as a financial security casts doubt on the future of Solana-based ETFs.

Large asset managers like BlackRock have shown minimal interest, reflecting broader skepticism about the potential impact of these products on the U.S. crypto market. However, other SOL-related proposals are in development in both the U.S. and Brazil, although their success remains uncertain.