Canary Capital has officially filed for a Solana (SOL) exchange-traded fund (ETF), marking the second such filing after Grayscale’s proposal last week.
In the regulatory filing, the Securities and Exchange Commission (SEC) invited public comment on the “Canary Solana Trust,” a proposed exchange-traded fund (ETF) that would integrate SOL investment into the mainstream financial industry.
The SEC has now opened a 21-day public comment period, after which it will either approve, deny, or extend the decision deadline.
Many experts believe that Solana (SOL) and other altcoins will get their own ETFs this year, though it’s unclear when and in what order. The SEC now seems more open to crypto than it was under its previous chair, Gary Gensler.
If approved, this would allow mainstream investors to buy Solana through traditional financial markets, similar to how Bitcoin ETFs work. Grayscale’s Solana ETF is slightly ahead in the process. Its outcome could indicate how the SEC will handle Canary’s application.
Also Read: SEC Moves Forward on Grayscale’s Spot Solana ETF Bid
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