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yesterday

Seven Asset Managers Amend Solana ETF S-1s as Cboe BZX Seeks Invesco Galaxy Listing

Agencies have begun examining changes to fund registration statements alongside exchange proposals that target surveillance controls, redemption processes, staking options ahead of final decisions this quarter.

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SEC
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Overview

  • Seven major firms—including Grayscale, VanEck and Fidelity—filed amended S-1 registration statements with the SEC for spot Solana ETFs.
  • Cboe BZX submitted a 19b-4 proposal to list the Invesco Galaxy Solana ETF, which would track the Lukka Prime Solana Reference Rate and allow cash and in-kind share creation and redemption.
  • 21Shares revised its application to address SEC feedback on in-kind redemption procedures as issuers refine prospectus language.
  • The filings argue that Solana’s roughly $2 billion in daily trading volume across major exchanges negates the need for a separate futures market surveillance agreement.
  • The SEC is also reviewing a postponed Ethereum ETF staking proposal with a new deadline of September 25, underscoring lingering scrutiny over staking features.