MEXCFidelity Joins Solana ETF Race As CBOE Files 19b-4 With US SEC
Highlights
- Fidelity has officially filed with the US SEC to offer a Solana ETF through CBOE.
- This comes just days after the asset manager incorporated the fund in Delaware.
- This filing formally kicks off the process for the Commission to deny or approve the ETF.
CBOE has filed its 19b-4 form for Fidelity’s Spot Solana ETF with the US Securities and Exchange Commission (SEC). With this move, Fidelity joins a growing list of asset managers that have filed with the US SEC to offer a SOL ETF.
CBOE Files List And Trade Fidelity’s Solana ETF
In a 19b-4 filing, CBOE officially declared its intention to list and trade Fidelity’s Solana ETF with the US SEC. This move formally kicks off the process for the Commission to either approve or deny Fidelity’s application to offer a Solana ETF, which will be tradable on the CBOE exchange. The asset manager is also expected to file the S-1 form for the fund soon enough.
This development comes just days after the billion-dollar asset manager filed to incorporate the SOL ETF in Delaware, raising speculations that a filing with the US SEC would come next.
Fidelity joins a host of other asset managers, including Grayscale, Franklin Templeton, Bitwise, Canary Capital, 21Shares, and VanEck, that have already filed to offer a Solana ETF.
Fidelity has been busy in the crypto space lately. The asset manager recently filed a tokenized US Dollar money market fund on Ethereum and hinted at expanding the fund to other networks in the future.
Bullish Outlook For The Solana Price
The SOL ETF filing is undoubtedly bullish for the Solana price, which is eyeing a reversal and looking to reclaim the psychological $200 level. The pending ETFs will drive institutional inflows into the SOL ecosystem and possibly spark significant rallies for the altcoin.
Other fundamentals, such as BlackRock’s BUIDL launching on the network, also paint a bullish picture of the Solana price. Polymarket also recently integrated Solana and enabled SOL deposits on its platform. Meanwhile, 21Shares just launched a Solana ETP in Europe.
From a technical perspective, crypto analysts also seem bullish on the SOL price amid this Solana ETF filing. Crypto analyst UFO remarked that SOL’s comeback is loading just as predicted. His accompanying chart showed that the altcoin could rally to as high as $260 as it stages a bullish reversal.
Crypto analyst Renski also asserted that the Solana price is about to rip and will soon be back above $200. A rally above $200 would put SOL in bullish territory and could pave the way to a new all-time high (ATH).
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