One more day, another once unimaginable filing of crypto exchange funds. The Solana ETF of Canary Capital has been the second vehicle to reach the starting gate.
In a Regulation filing Tuesday the Securities and Exchange Commission (SEC) opens public comments on the “Canary Solana Trust,” an ETF proposed to bring Sol Investing to the mainstream finance.
The filing is worth a clock setting for the suggested Canary capital investment vehicle. In 21 days the SEC will provide a verdict (approved or denial) or, perhaps more likely, kick the decision that may have deadline extensions.
Market observers are widely bullish that Sol and other Altcoins will win their own ETFs this year, but the exact timing and conjunction -next is unclear. What’s more apparent is the new SEC’s willingness to look good in the industry, and the former regulator’s former mistakes under the former Chair Gary Gensler have been past.
Donald Trump’s return to the White House created an opening for Canary to act aggressively, CEO said Steve McClurg CoinDesk. Looking for a company to list Altcoin ETFs for property likes like Solana who could be nonstarters under the old regime.
Grayscale’s prospective Solana ETF reached the starting gate last week, which meant the 21-day fate would come a few days before Canary’s-and likely to be a “coal mine” for both.
A representative for the Canary did not immediately respond to a request for comment.
