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06/11 00:17

Solana's SOL Jumps 5% on Report of Spot ETF

Solana's SOL Jumps 5% on Report of Spot ETF Development

The SEC asked prospective ETF issuers to amend key paperwork, Blockworks reported828a68aee89a6508d6a52583dcf8834a1b89aebd-1420x746.png
Solana's SOL surged 5% after a report that U.S. regulators are advancing the process for spot SOL ETFs.
The SEC has requested amendments to S-1 filings from prospective issuers, with comments expected within 30 days, Blockworks reported.
Asset managers including Fidelity, Grayscale, VanEck are seeking SEC approval to launch SOL funds, following the debut of bitcoin and ether spot ETFs.
SOL jumped above $164 in the minutes following the report, up nearly 5% over the past 24 hours.

After the debut of bitcoin 
BTC $110,117.26  and ether  ETH $2,824.83 spot ETFs in the U.S. last year, asset managers are racing to get regulatory approval to launch similar vehicles for smaller cryptocurrencies,
offering traditional investors easier access to invest in digital assets. Several asset managers have filed applications with the SEC to launch funds holding SOL, including Fidelity, Grayscale, Franklin Templeton and VanEck.

CoinDesk reached out to prospective issuers for confirmation but had not yet heard back at time of publication.

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