Fidelity’s Solana ETF: The Latest Circus Act in the Crypto Big Top! 🎪

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In a world where the absurd often masquerades as the ordinary, the Cboe BZX Exchange has taken a bold step, filing form 19b-4 with the U.S. Securities and Exchange Commission. Yes, dear reader, they are officially throwing their hat into the ring for a new Solana exchange-traded fund. One can only wonder if the SEC is ready for this latest spectacle.

With this filing, Cboe has added Fidelity’s proposed Solana (SOL) ETF to the ever-expanding list of altcoin applications that the U.S. securities watchdog must now sift through. It’s as if they are collecting Pokémon cards, but instead, they are gathering regulatory headaches. Who knew finance could be so entertaining? 😂

Through the 19b-4 form, Cboe seeks the SEC’s blessing for a proposed rule change that would allow the exchange to list and trade shares of the Fidelity Solana Fund. This application follows the registration of a Solana trust with the CSC Delaware Trust Company, which sounds like a fancy way of saying they are trying to get their ducks in a row before the big show.

Fidelity Investments, in a move that can only be described as a game of regulatory leapfrog, now joins a host of other industry players—Canary Capital, Franklin Templeton, Grayscale, and VanEck—who are all vying for the SEC’s approval for spot Solana ETFs. It’s a veritable buffet of financial ambition! 🍽️

Interestingly, this 19b-4 filing comes just a day after Fidelity sought the SEC’s green light for a blockchain-based fund that tracks its money market fund. Because why not add another layer of complexity to an already convoluted landscape? It’s like adding whipped cream to a sundae that’s already overflowing with toppings!

The ETF Scramble: A Comedy of Errors

As crypto.news has pointed out, Fidelity is also looking to unveil an ETF for its on-chain fund, the Fidelity Treasury Digital Fund. This fund, with the ticker FYHXX, holds cash and U.S. Treasury securities—because nothing says “cutting-edge finance” quite like good old-fashioned government bonds.

As the scramble for spot ETFs intensifies with Cboe BZX’s filing, the market is keenly observing demand through the performance of Solana futures ETFs. Florida-based Volatility Shares has already debuted the Volatility Shares Solana ETF and the Volatility Shares 2X Solana ETF on March 20, 2025. Talk about being ahead of the curve! 🏎️

These two products, with the ticker symbols SOLZ and SOLT, respectively, saw notable volume upon launch, prompting analysts to predict potential demand. It’s almost as if they are trying to predict the weather in a hurricane—good luck with that!

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2025-03-25 20:58