
Spot Solana ETF Race: 21Shares Updates Application After US SEC Requests Amendments
In a recent move aimed at bolstering the proposal and addressing regulatory concerns regarding the fund, 21Shares has updated its Spot Solana ETF application. This action marks another significant step in the ongoing struggle for a spot Solana ETF, which is gaining substantial momentum among asset managers.
The updated filing aims to respond to comments provided by the US Securities and Exchange Commission (SEC) on key areas of the fund’s proposal, such as in-kind redemptions. The move reflects 21Shares’ unwavering commitment to introducing SOL-based investment products into traditional markets.
This crucial action has significant implications for the Solana ecosystem, as it highlights the company’s willingness to adapt and accommodate SEC comments in its application. By doing so, 21Shares demonstrates its dedication to ensuring that the Spot ETF complies with regulatory standards.
In an effort to introduce SOL-based investment products into the mainstream market, several companies have lately submitted applications for spot Solana ETFs.
Source: bitcoinist.com