21Shares files application for spot Solana ETF

21Shares filed an S-1 application with the United States Securities and Exchange Commission for a spot Solana (SOL) exchange-traded fund (ETF) on June 28. The fund will be called the 21Shares Core Solana ETF. This is the second application the SEC has received for a spot SOL ETF, following VanEck’s filing on June 27.

The proposed ETF will trade on the Cboe BZX Exchange. Coinbase will serve as the custodian for the fund’s Solana ( SOL ) holdings, which will be insured privately. The fund will not participate in validating or staking SOL. The value of SOL in the fund will be determined daily at 4:00 ET.

21Shares is a crypto-native financial technology company headquartered in Zurich, Switzerland. It already offers future Ether ( ETH ) and spot and future Bitcoin ( BTC ) ETFs in the United States.

The price of SOL rose rapidly from $139 to $150 on the news of the VanEck filing. It settled at $141.58 at 12:00 pm ET, according to CoinMarketCap.

This is a developing story, and further information will be added as it becomes available.