Key Takeaways
- Solana’s SOL token price surged to $250, nearing its all-time high amid SEC discussions with ETF issuers.
- The SEC has initiated talks with Solana ETF issuers like VanEck and 21Shares on S-1 forms.
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Solana’s SOL token surged to $250, its highest level since November 2021, on Thursday morning. The surge comes as discussions between SEC staff and Solana ETF issuers are making progress.
The fourth-largest crypto asset is now just 4% away from its all-time high of $260 set in November 2021, based on data from CoinGecko. If the current bullish momentum continues, Solana will soon surpass its record high before Ethereum does.
The SEC has initiated talks with Solana ETF issuers regarding their S-1 registration forms, according to FOX Business journalist Eleanor Terrett, citing “two people familiar with the matter.”
VanEck, 21Shares, and Canary Capital submitted S-1 applications for Solana ETFs earlier this year. Both VanEck and 21Shares plan to list their products on the Cboe exchange if approved.
“There’s a ‘good chance’ we’ll see some 19b4 filings from exchanges on behalf of prospective issuers — the next step in the ETF approval process — in the coming days,” Terrett said. These filings would initiate a 240-day SEC review period.
Previous 19b4 filings from VanEck and 21Shares were removed from the Cboe’s website in August, though issuers now report increased engagement from SEC staff. Combined with an incoming pro-crypto administration, this…
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