21Shares follows VanEck's footsteps and submits Solana spot ETF S-1 documents to the SEC, adding new expectations to the crypto market

In the field of cryptocurrency ETFs, competition is becoming increasingly fierce. Recently, 21Shares, a well-known crypto asset management company, officially submitted its S-1 registration document for the spot Solana ETF to the U.S. Securities and Exchange Commission (SEC), becoming the second institution after VanEck to seek to launch the Solana ETF in the United States. This move not only shows 21Shares' high recognition of Solana's potential, but also indicates that the cryptocurrency market is about to usher in a new investment boom.

It is worth noting that although 21Shares and VanEck both regard Solana's native token SOL as a commodity, the SEC enforcement department disagrees and believes that SOL should be classified as a security. This disagreement undoubtedly adds some uncertainty to the smooth launch of these ETFs, and may also become a major challenge they face. However, this has not stopped 21Shares and other institutions from moving forward, and they are still firmly advancing relevant preparations.

It is reported that Coinbase Custody will be responsible for the custody of 21Shares' Solana ETF, which undoubtedly provides investors with safer and more reliable protection. With the submission of the S-1 document, the market is closely watching the SEC's next move, looking forward to the early launch of this innovative financial product to inject new vitality into the cryptocurrency market.

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