Cboe BZX files SEC forms for VanEck and 21Shares Solana ETFs – DiarioBitcoin

In the forms 19b-4s presented by Cboe BZX, The platform claims that it does not see significant differences between the ETFs Solarium in cash silver for VanEck and 21Shares against already operational funds based on Bitcoin and those of Ethereum to leave.

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• CBOE BZX supported ETF applications Solarium presented by VanEck and 21Shares
• He filed a complaint with the SEC the forms 19b-4s corresponding to said requests
• He claims that he sees no significant differences between these funds and their peers based on BTC and ETH
• However, the prospects for success for an ETF Solarium in cash are not entirely clear for now
• From VanEck, They believe there would be a chance if Trump wins the presidency or Gary Gensler leaves the SEC

The Chicago Stock Exchange, better known as Cboe BZX, presented to the Securities and Exchange Commission (SEC) the corresponding forms for exchange-traded funds (ETFs) based on Solarium cash, originally proposed by VanEck and 21Shares days ago.

CBOE BZX supports ETFs Solana by VanEck and 21Shares

As part of the ETF process Solarium cash, CBOE BZX reported to the SEC the forms 19b-4s corresponding to the funds proposed and managed by VanEck and 21Shares, This further formalizes plans to bring the product to the U.S. market following the agency’s review.

According to a report published by The Blockthe forms 19b-4s consigned by CBOE BZX In themselves they constitute proposed rule changes for the funds in question, and are part of the due process to ensure approval of the ETF submitted by the aforementioned administrators.

In this regard, the report indicates that CBOE BZX compared proposals for ETFs Solarium with funds based on Bitcoin already operational and those of Ethereum which are about to be released, claiming that there would be no significant differences between these products:

“Like Bitcoin and Ethereum, the exchange believes that SOL is resistant to price manipulation and that there are ‘other means to prevent fraudulent and manipulative acts and practices’ to justify waiving the required surveillance exchange agreement.”he indicated Cboe BZX.

A risky bet

While for many an ETF Solarium Cash would be the natural step after the approval of the funds based on Ethereum in cash, this type of product may see much more difficulties than its predecessors, especially since the SEC appears to have taken a stance on cryptocurrency SUN by qualifying it as a value.

Even this has been openly acknowledged by the director of the digital assets research area for VanEck, Matthew Sigel, who said that the presentation of an ETF Solarium Spot is basically a bet focused on a possible change of government in the US, a country that will have presidential elections by the end of the year and where the crypto issue seems to be one of the campaign axes for the main candidates.

Specifically, Sigel assured that the possibilities for this product to reach the market would be centered on the victory of former President Donald Trump, although he later commented that it would be enough for there to be a change of director for the SEC. Both the representative of VanEck Like many other personalities, they consider that the agency’s rejection of cryptocurrencies has more to do with Gary Gensler’s stance, which seems to be a rejection more from a personal point of view than linked to the laws followed by the regulator.

On this, Sigel commented:

There are those who think that there is no regulated futures market for Solana and that could be holding back the growth of the ETF. We believe that this is another psychological operation by Gensler. He has created this situation since he took power.

As to VanEck and 21Shares, while their applications for ETFs Solarium They begin their long journey through the SEC, have already filed the final versions of the S-1 forms for their funds based on Ethereum in cash with the agency, so they are waiting for the final verdict to schedule the formal start of operations in the US market.

Article by Angel Di Matteo / Bitcoin Diary

Image by Unsplash

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