Several applications to launch %Solana based (CRYPTO: $SOL) spot exchange-traded funds (ETFs) have moved forward at the U.S. Securities and Exchange Commission (SEC).
In a new regulatory filing, the Wall Street regulator opened a public commentary period on a proposed ETF from Canary Capital that would enable investors to wager on the price movements of cryptocurrency Solana.
The SEC has also acknowledged similar filings for spot Solana ETFs from Grayscale, VanEck, 21Shares and Bitwise.
The public comment period is to last 21 days, after which the SEC will render a verdict of approval or rejection on the proposed Solana ETFs.
Crypto analysts are cautiously optimistic that the Solana ETFs will be approved by the SEC, though the timing of their launch remains unclear.
After years of fighting cryptocurrencies, the SEC now has a more favorable view of digital assets under the administration of U.S. President Donald Trump.
Canary and other asset managers are looking to list ETFs for %Cryptocurrencies such as Solana, XRP and Cardano that would have been rejected outright under the previous SEC regime.
The price of Solana has risen 88% over the past 12 months to currently trade at $190 U.S. per digital token.
