Key facts: Yesterday, VanEck had filed a similar application. The SEC, so far, has considered Solana to be an unregistered security. The U.S. Securities and Exchange Commission (SEC) has received a new application for approval for a Solana (SOL) spot ETF, this time from the company 21Shares. The filing of Form S-1 with the regulator It came just a day after VanEck submitted its proposal of ETF also based on that cryptocurrency. Both applications face the same initial hurdle: the SEC's stance on the nature of solana. For the regulator, SOL is an unregistered security and, for this reason, it must be regulated by the United States Securities Act, unlike what happens with bitcoin (BTC) and ether (ETH), as reported CryptoNews. For now, the price of the cryptocurrency has remained at $142Yesterday, following VanEck's presentation, its share price rose by 9%, reaching $148, as shown in the following TradingView chart.
SOL Price. Source: TradingView. Bloomberg ETF specialist Eric Balchunas noted that the likelihood of solana-based funds being approved in the next 12 months is depend on a change of president in the United States. «It's safe to say the possibilities are greater today,» she said. Balchunas did not dare to give his usual forecast of the probability of the ETFs being approved, since it is too early, he argued.