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Canary Capital Files for Solana ETF in the US

Canary Capital Files for Solana ETF in the US

HappyCoinNewsHappyCoinNews2024/10/31 22:33
By:HappyCoinNews

Investment company Canary Capital filed a application for spot issue in the US ETF based on cryptocurrency Solana (SUN).

According to the data specified in the derivative registration form, Solana - ETF from Canary Capital will track the SOL price in real time using an index developed by the Chicago Mercantile Exchange. Investors will be able to purchase shares ETF , using a regular brokerage account, and make money on price increases Solana However, it is not yet known where the digital assets acquired in exchange for the issued shares will be stored. ETF .

In addition to Canary Capital, applications seeking approval for the creation of Solana - ETF VanEck and 21Shares, which issued funds based on bitcoin, have filed with the US Securities and Exchange Commission Ethereum (ETH). In addition, a derivative based on SOL is planned to be presented by the financial industry giant Franklin Templeton, which manages client assets worth at least $1,5 trillion.

According to many experts, the regulator will approve the launch of trading Solana - ETF , so a significant influx of capital is expected into the cryptocurrency market. However, SOL is doing just fine without support from derivatives issuers. Since October 10, the coin has risen in price by 29%, and its rate fluctuates above the bullish trend line, so the upward trend should continue.

Canary Capital Files for Solana ETF in the US image 0

Bullish trend line on price change chart Solana

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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