According to reports, the CBOE website has withdrawn the 19b-4 filings for VanEck and 21Shares Solana exchange-traded fund (SOL ETF).
The CBOE website no longer contains the filings for Solana exchange-traded funds, SOL ETFs from 21Shares, and VanEck. Two asset management companies submitted the S-1 forms to request approval for the Solana ETF in early June. Nevertheless, the documents are no longer accessible through the direct URL on the CBOE website.
According to reports, the Chicago Board Options Exchange (CBOE) website has removed VanEck forms 19b-4 and 21Shares for an unknown reason. The two firms may have withdrew their applications, or the U.S. Securities and Exchange Commission (SEC) might have declined them.
Document SR-CboeBZX-2024-067 and Document SR-CboeBZX-2024-066 are no longer accessible via direct link, as they were previously on the CBOE website, according to Summers, an X user. Furthermore, the documents are no longer accessible in BZX Pending Rule Changes.
The X user observed that the U.S. SEC had never acknowledged the two applications and, as a result, had never issued the Notices of Filings.
On January 8th, the regulator published Notices of Fillings for Bitcoin ETFs and subsequently approved 11 spot Bitcoin ETFs. Nevertheless, the regulator’s failure to publish the Notices of Fillings from 21Shares and VanEck’s Solana ETF applications remains unclear.
On July 8, 21Shares and VanEck submitted 19b-4 forms to investors following their June S-1 filings, in which they hinted at the possibility of offering Solana ETFs. The U.S. financial authority is reportedly hesitant to sanction Solana ETFs, according to experts.
Matthew Sigel, the Head of Research at VanEck, conveyed his disappointment in Brazil’s recent approval of Solana ETFs, which surpassed the United States.
Sigel expressed his apprehension that American legislators are concentrating on the incorrect trajectory, which is causing other countries to outperform the U.S. in terms of crypto regulations. He stated that the White House is the solution to the issue of U.S. regulation necessitating a “soft fork” upgrade to launch Solana ETFs.
Sigel expressed his humiliation as an American after Brazil approved SOL ETFs, as Brazil had authorized the applications before the United States. Additionally, he stated that U.S. legislators are more concerned with impeding the expansion of the digital asset industry than promoting it.
“This administrator is successfully litigating against Big Tech for antitrust violations, yet he refuses to permit the proliferation of open source alternatives.”
The Brazilian Securities and Exchange Commission, the regulatory body for the South American nation, has authorized the initial placement of Solana ETFs. Both QR Asset and Vortx will establish and supervise the ETFs. The CME CF Solana Dollar Reference Rate Index, which was developed by CF Benchmarks and is supported by the Chicago Mercantile Exchange (CME), will be leveraged by the fund.
Scott Johnsson, the general counsel at Van Buren Capital, also responded in an X post, and he attributed the delisting of Solana ETF filings from CBOE to U.S. SEC chief Gary Gensler. In addition, Johnsson conjectured that Gary may have informed the CBOE that the SOL ETF applications were not submitted as “commodity-based trust shares” as required, rather than as the chair following the 19b-4 procedure.
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