Think about it, friend, the passions are boiling in the crypto world again — this time around Solana and the opportunity to launch a spot ETF (an exchange-traded fund that tracks the price of an asset directly, rather than through futures). This week, CoinShares filed an application with the U.S. Securities and Exchange Commission (SEC) to issue its CoinShares Solana ETF.
They submitted the S-1 form, which is the official start of the application. If regulators give the go-ahead, this fund will be traded on the stock exchange and track the real price of the SOL token (by the way, Solana is the sixth largest crypt in the world by capitalization). The assets will be held by Coinbase Custody and BitGo Trust, which are large and trusted guys in the world of digital assets.
An interesting feature: CoinShares also plans to stack some of its assets, that is, to lease tokens on the Solana network and earn income. By the way, the income will also go to the fund, which means it will potentially increase its profitability. However, it has not yet been revealed who will be involved in this stacking.
But what's even cooler is that CoinShares has already become the eighth company that is trying to get approval for the Solana ETF. VanEck, Fidelity, Grayscale and other major players are participating in this race. Everyone wants to be the first, because the order of submission of applications can affect the priority during consideration.
Why is there such a rush now? After the SEC finally approved spot ETFs for bitcoin and ether last year, there was hope that the regulator would now open up to other cryptocurrencies. And Solana, along with Litecoin, is now on the list of "favorites" for approval. According to Bloomberg analyst Eric Balchunas, the resolution may come in 2-4 months. Companies have already begun to refine their applications, for example, adding more details about asset repayment and stacking.
So the question is not “if”, but “when” the SEC will give the go—ahead. Well, if this happens, then a new market will be created for investors who want to invest in Solana through a regular exchange, without messing with crypto wallets and exchanges.
Well, here's a question for you to think about, buddy.:
If the Solana ETF is really approved, would you invest or are you still cautious with the crypt?
