SEC rejects filings for Solana ETFs
According to a well-placed source, the SEC rejected Cboe BZX’s 19b-4 filings for two prospective spot Solana ETFs, leading to their withdrawal from the Cboe website.
The rejection followed concerns that Solana should be classified as a security, aligning with the SEC’s stance in various court cases.
The 19b-4 filings, necessary for initiating the SEC’s approval process, were not placed in the Federal Register due to the SEC’s rejection.
The two issuers 21Shares and VanEck are still pursuing Solana ETFs, with their filings remaining active on the SEC’s EDGAR system.
The rejected 19b-4 filings could be refiled or amended to address the SEC’s concerns regarding Solana’s classification.