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Fintech Firm 21Shares Follows VanEck’s Lead and Submits Solana (SOL) ETF Application

June 29, 2024

21Shares has now officially filed paperwork in hopes of launching a Solana (SOL) exchange-traded fund (ETF).

The fintech firm submitted a registration statement with the U.S. Securities and Exchange Commission (SEC) on Friday for the “21Shares Core Solana ETF,” which would trade on the Cboe BZX Exchange if approved.

Three years ago, 21Shares’ European affiliate launched the world’s first Solana ETF in Europe, the 21Shares Solana Staking ETP (ASOL). The financial product has more than $846 million in assets under management as of June 27th.

The fintech firm says the recent SEC filing is “essential for democratizing access to crypto in the US.”

“We believe this is a necessary step for the crypto industry and it holds true to our mission to bring to market easily accessible financial products centered around crypto assets.”

21Shares is the second firm to file for a SOL ETF in the US this week. On Thursday, the investment giant VanEck submitted an S-1 registration statement to the securities regulator in hopes of launching its own “VanEck Solana Trust.” The product would also be listed on the Cboe BZX Exchange if ultimately approved by the SEC.

SOL is trading at $141.84 at time of writing. The fifth-ranked crypto asset by market cap is down almost 4% in the past 24 hours.

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