TechFlow news, on August 20, according to The Block, the U.S. Securities and Exchange Commission (SEC) rejected Cboe BZX's 19b-4 filings submitted on behalf of two potential Solana ETF issuers. Sources indicated that this decision led to the related applications being removed from Cboe's website. Previously, the SEC had reiterated to the issuers its position that Solana is a security, consistent with its assertions in multiple court filings.
Currently, 21Shares and VanEck are racing to launch Solana ETFs. 21Shares' S-1 registration statement has disappeared from the SEC's EDGAR system, while VanEck's application remains active. Matthew Sigel, VanEck's research director, said their application is still moving forward. Although the rejection of the 19b-4 filing is a setback, issuers may resubmit or revise their applications in the near term, strengthening their argument that Solana is not a security. Audrey Belloff, 21Shares' communications lead, stated they remain committed to expanding investor access to cryptocurrencies in the U.S. and global markets.
