CandleFocus Solana ETF Momentum Grows With New Filing After Bitcoin and Ethereum Approvals
2024-10-31
Author: Content Editor
Nashville-based firm Canary Capital has filed with the Securities and Exchange Commission (SEC) for a proposed Canary Solana ETF. If approved, investors would be able to buy shares that track the price of SOL, the fifth-largest digital asset, allowing them to gain exposure to the coin without purchasing and storing cryptocurrency. The filing comes after the approval and trading of Bitcoin and Ethereum ETFs in the US, but analyst believe the speed of approval for Solana ETFs could depend on the outcome of next week's US elections and the tenure of SEC Chairman Gary Gensler. Both VanEck and 21Shares have previously filed applications to launch Solana ETFs in the US.
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