As a seasoned crypto investor with over two decades of experience in the financial markets, I find myself perplexed by the sudden disappearance of the Solana ETF filings by 21Shares and VanEck from the CBOE website. Having witnessed numerous regulatory hurdles and approvals in my journey, this unexpected twist has left me questioning the intent behind such a move.
21Shares and VanEck’s applications for Solana exchange-traded funds (ETFs) have mysteriously disappeared from the Chicago Board Options Exchange (CBOE) site, causing a ripple of confusion among finance professionals who are now wondering about the situation’s implications.
In June, both companies submitted S-1 forms for approval to introduce Solana ETFs, with their applications referred to as SR-CboeBZX-067 and SR-CboeBZX-066 from Cboe BZX Exchange.
It seems that the forms for VanEck and 21Shares Solana ETFs, specifically SR-CboeBZX-2024-066 and SR-CboeBZX-2024-067, have been taken down from the CBOE website. These documents are no longer available through direct links nor can they be found in the BZX Pending Rule Changes section. Additionally…
— Summers (@SummersThings) August 16, 2024
It seems that these documents are now unavailable, and no Notices of Filings from the U.S. Securities and Exchange Commission (SEC) have been released. The lack of documentation could suggest either a withdrawal of the applications by 21Shares and VanEck, or possibly a rejection by the SEC.
The situation has drawn criticism from industry professionals including Matthew Sigel, Head of Research at VanEck, who expressed disappointment, especially since Brazil recently approved Solana ETFs.
1. In my American identity, I feel ashamed to be outpaced by Brazil in terms of market innovation.
— matthew sigel, recovering CFA (@matthew_sigel) August 9, 2024
Signal posits that the United States is lagging behind other nations in governing digital currencies, and he voiced disapproval towards U.S. legislators for failing to foster the development of this field.
According to Scott Johnsson, General Counsel at Van Buren Capital, he too has commented on the issue, pointing a finger at SEC Chair Gary Gensler for the current predicament. Johnsson hypothesized that there may have been technical problems in the way the applications were submitted, potentially causing them to be taken down from the CBOE platform.
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2024-08-18 14:28