$S ETF of @SonicLabs ADVANCES.

In internal preparations for the ETF, Sonic's proposal was approved by governance on August 31, 2025, with 99.99% of votes in favor, backed by over 860 million tokens.

- Legal Structure Established: Sonic USA LLC was established in Delaware with headquarters in New York on September 1, 2025, as the operational base for the ETF and the institutional PIPE.

- Custody: The confirmed custodian is BitGo, which manages over $10 billion in assets.

- Financial Instruments:

- ETF (ETP): $50M in S tokens are reserved for a regulated exchange-traded fund, still pending approval by the SEC.

- PIPE on Nasdaq: An additional $100M is structured as a private investment in public equity, with tokens locked for three years.

- Current Status:

- The legal and financial structure is already in place.

- The filing with the SEC is expected for September 2025, but no confirmed date for approval is available.

- The $50M in tokens will not be released until the final ETF agreement is signed, which is expected in the last quarter of 2025, barring any setbacks.