- VanEck and 21Shares’ Solana ETF registrations have been removed from the CBOE website.
- Despite submission issues, SOL price appeared stable, but bearish momentum continued.
In an unexpected turn of events, VanEck and 21Shares’ 19b-4 applications for the Solana spot [SOL] ETFs have mysteriously disappeared from the Chicago Board Options Exchange (CBOE) website.
No room for Solana ETF?
According to sources familiar with the matter, the US Securities and Exchange Commission (SEC) had rejected CBOE BZX’s filings for these Solana ETFs, leading to their removal from the site.
Despite the removal of the filings from the CBOE website, Matthew Sigel, head of digital asset research at VanEck, offered reassurance.
Executives remain optimistic
In a recent update on
This statement is intended to address concerns and clarify that the withdrawal of applications does not mean the end of their Solana ETF proposal.
“Remember that exchanges like Nasdaq and CBOE are changing the filing rule (19b-4) to list new ETFs. Issuers such as VanEck are responsible for the prospectus (S-1). Ours stays in the game.”
What’s going on?
For those unaware, on July 9, CBOE filed a 19b-4 filing with the SEC seeking approval for the listing of VanEck and 21Shares’ proposed Solana ETFs.
This filing is separate from the S-1 forms typically filed by issuers.
However, as of August 9, the application was no longer visible on CBOE’s website, leading to speculation about the current status and possible withdrawal of the ETF proposals.
Notably, the SEC’s rejection of the 19b-4 forms means that the Solana ETF applications have not been submitted for approval.
However, these forms can be revised and resubmitted with stronger arguments.
That being said, this news didn’t seem to upset many, as noted by an X user: Ssebiwho said,
“At this point all experienced people know what a scam Solana is. That is why there will be no Sol ETF.”
Was the price of SOL affected?
SOL’s price action also remained relatively stable despite the news, up modestly by 1.3% over the past 24 hours and trading at $145.37 according to CoinMarketCap.
However, the closing Bollinger Bands and the Relative Strength Index (RSI), which were below the neutral level, indicated continued bearish sentiment that may last longer.
But if SOL manages to surpass the $157.34 resistance level, the bullish momentum could start to outpace the bears.
Source: trading view
