Solana ETF filings disappear from CBOE as approval speculations arise

Recent developments have caused a stir in the crypto community as Solana (CRYPTO:SOL) ETF filings from VanEck and 21Shares were unexpectedly removed from the Chicago Board Options Exchange (CBOE) website.  

This sudden disappearance has led to growing speculation that the applications may face delays or outright denial by the U.S. Securities and Exchange Commission (SEC).  

Both VanEck and 21Shares had submitted their Solana ETF applications on July 8, fueling expectations that Solana could follow in the footsteps of Bitcoin (CRYPTO:BTC) and Ethereum (CRYPTO:ETH) with its own exchange-traded fund.  

However, the removal of the documents from the CBOE website has sparked concerns that the SEC may not view Solana as a commodity, complicating its chances for ETF approval.  

Industry experts are weighing in on the situation, with some suggesting that SEC Chair Gary Gensler may have communicated to CBOE that the Solana ETF applications were improperly filed, potentially bypassing the need for a formal disapproval process.  

This comes as the SEC has yet to issue a formal notice regarding the Solana ETF applications, leaving the market in a state of uncertainty.  

Despite Solana’s global success in markets like Switzerland, Canada, and Brazil, the path to U.S. ETF approval remains fraught with challenges.  

The SEC's concerns over market manipulation, network reliability, and regulatory compliance must be addressed before any approval can be considered.  

With the market closely watching these developments, companies like Valkyrie Investments and Bitwise Asset Management have expressed interest in filing for a Solana ETF, while others remain skeptical.  

The outcome of Solana's ETF journey will be a key indicator of its future in the U.S. crypto market, with the potential to significantly impact its valuation and investor confidence.