Another day, another once unthinkable crypto exchange traded fund’s archiving. Canary Capital’s proposed Solana ETF has become the second such vehicle to reach the starter gate.
In a legislative archiving on Tuesday, Securities and Exchange Commission (SEC) opened the public comment on “Canary Solana Trust”, a proposed ETF that would bring sun investment into mainstream financing.
The filing constitutes an watch for Canary Capital’s proposed investment vehicle. In 21 days, SEC will make a judgment (approval or denial) or perhaps more likely that the decision can kick the decision with Deadline extensions.
Market observers are broad Bullish, that sun and other altcoins win their own ETFs this year, but the exact timing and order is unclear. What more apparently seems to be SEC’s new -found will to look positively at the industry and past the regulator’s old concerns under former President Gary Gensler.
Donald Trump’s return to the White House created an opening for Canary to act aggressively, CEO Steve McClurg previously told Coindesk. The company is looking to indicate ALTCOIN -TFs for assets like Solana that would have been not -starting under the old regime.
Grayscales potential Solana Etf reached this starting port last week, which means its 21-day fate comes a few days before Canary’s and is probably a “canary in the coal mine” for both.
A representative of Canary did not immediately respond to a request for comment.
