21Shares and VanEck Solana ETF Filings Vanished from the CBOE Website

Filings for Solana-based exchange-traded funds (ETFs) by 21Shares and VanEck have vanished from the Chicago Board Options Exchange (CBOE) website. The filings, labeled SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067, were initially submitted in June 2024. Their removal raises questions about the current status of these ETFs.

After submitting S-1 forms in June, both companies followed up with 19b-4 forms in July. However, these documents are now inaccessible online. The reasons for their disappearance remain unclear, leading to speculation about whether the SEC rejected the filings or if the companies withdrew them.

SEC’s Silence on 21Shares and VanEck Solana(SOL) ETFs

Notably, the SEC has not issued any Notices of Filings for these Solana ETFs, unlike its previous actions with Bitcoin ETFs, where it issued notices before approving 11 spot Bitcoin ETFs.

According to an X user named Summers, the Solana ETF documents were once accessible via direct links on the CBOE website but have since been removed. They are also no longer visible in the BZX Pending Rule Changes section.

Industry Experts Voice Concerns Over US Delay on Solana ETFs

The disappearance of the Solana ETF filings has caught the attention of industry professionals. Matthew Sigel, Head of Research at VanEck, expressed frustration over the situation. He highlighted that Brazil recently approved Solana ETFs, putting it ahead of the United States. Sigel commented on X that U.S. regulators seem to prioritize issues like antitrust lawsuits against Big Tech over supporting blockchain-based financial products.

General Counsel at Van Buren Capital, Scott Johnsson, also addressed the situation. He speculated that SEC Chair Gary Gensler might have influenced the delisting of the Sol ETFs filings. Johnsson suggested that the SEC may have flagged the filings as improperly submitted “commodity-based trust shares,” potentially explaining their removal from the CBOE website.

Brazil Approves First Spot Solana ETFs as U.S. Hesitates

While the U.S. deals with uncertainty, Brazil has approved the first spot Solana ETFs. Managed by QR Asset and Vortx, these funds will use the CME CF Solana Dollar Reference Rate Index, developed by CF Benchmarks and supported by the Chicago Mercantile Exchange (CME). This development marks a significant step for Brazil’s financial market.

In the US., the SEC’s cautious approach to Solana ETFs raises doubts about their future. Despite growing interest, large asset managers like BlackRock have shown little involvement in these ETFs. Other Solana ETF proposals are in development in both the U.S. and Brazil, but their outcomes are uncertain.