[ad_1]
Main crypto asset supervisor Grayscale simply submitted a 19b-4 submitting to the U.S. Securities and Change Fee (SEC) to transform its Solana Belief right into a spot exchange-traded fund.
The Digital Foreign money Group (DCG) subsidiary’s Solana Belief is presently the biggest Solana funding fund by property beneath administration (AUM). It manages $134.2 million value of SOL, roughly 0.1% of all Solana in circulation.
Grayscale says it’s seeking to checklist the Solana Belief as an ETF so it could actually carefully monitor the worth of the underlying crypto asset.
“The Sponsor thus believes that permitting Shares of the Belief to checklist and commerce on the Change as an ETP (i.e., changing the Belief to a spot SOL ETP) would offer different traders with a secure and safe solution to spend money on SOL on a regulated nationwide securities trade.”
The event comes as different asset managers additionally file purposes to supply Solana ETFs to their clients. Funding large VanEck submitted an S-1 registration statement to the SEC in June, making it the primary firm within the US to use for a SOL ETF.
Matthew Sigel, the top of digital property analysis at VanEck, stated on the time that the submitting was a guess that Donald Trump would win the presidential election.
Different corporations in search of approval to launch a Solana ETF embody 21Shares, Canary Capital and Bitwise.
Do not Miss a Beat – Subscribe to get electronic mail alerts delivered on to your inbox
Verify Price Action
Observe us on X, Facebook and Telegram
Surf The Daily Hodl Mix
 
Disclaimer: Opinions expressed at The Every day Hodl are usually not funding recommendation. Traders ought to do their due diligence earlier than making any high-risk investments in Bitcoin, cryptocurrency or digital property. Please be suggested that your transfers and trades are at your individual threat, and any losses it’s possible you’ll incur are your duty. The Every day Hodl doesn’t advocate the shopping for or promoting of any cryptocurrencies or digital property, neither is The Every day Hodl an funding advisor. Please be aware that The Every day Hodl participates in internet online affiliate marketing.
Generated Picture: Midjourney
[ad_2]
Source link