- Filings from VanEck and 21Shares’ Solana ETF have been removed from the CBOE website.
- Despite the deposit issues, the SOL price appears stable, but the bearish momentum persists.
In an unexpected turn of events, VanEck and 21Shares’ 19b-4 filings for Solana spot ETFs (SOL) have mysteriously disappeared from the Chicago Board Options Exchange (CBOE) website.
No room for maneuver for the Solana ETF?
According to sources familiar with the matter, the U.S. Securities and Exchange Commission (SEC) rejected CBOE BZX’s filings for these Solana ETFs, leading to their removal from the site.
However, despite the removal of the documents from the CBOE website, Matthew Sigel, head of digital asset research at VanEck, provided reassurances.
Leaders remain optimistic
In a recent update on X (formerly Twitter), Sigel affirmed that his ETF application was still under consideration, stating, “ours remains in play.”
This statement is intended to allay concerns and clarify that the withdrawal of the filings does not signal the end of their Solana ETF proposal.
“Remember, exchanges like Nasdaq and CBOE file rule changes (19b-4) to list new ETFs. Issuers like VanEck are responsible for the prospectus (S-1). Ours remains in effect.”
What’s happening?
For those unaware, on July 9, CBOE filed a 19b-4 filing with the SEC, seeking approval to list Solana ETFs offered by VanEck and 21Shares.
This filing is separate from the S-1 forms typically filed by issuers.
However, as of August 9, the filing was no longer visible on the CBOE website, leading to speculation about the current status and potential withdrawal of the ETF proposals.
It should be noted that the SEC’s rejection of the Forms 19b-4 means that the Solana ETF applications were not approved.
However, these forms can be revised and resubmitted with stronger arguments.
That being said, this news doesn’t seem to have shocked many people, as noted by one X user – Sssebi, who said:
“At this point, everyone with experience knows what a scam Solana is. That’s why there will be no Sol ETF.”
Has the price of SOL been affected?
SOL price action has also remained relatively stable despite the news, posting a modest 1.3% increase over the past 24 hours and trading at $145.37 according to CoinMarketCap.
However, the closing Bollinger Bands and the Relative Strength Index (RSI) below the neutral level indicate a persistent bearish sentiment that could last for longer.
But if SOL manages to break above the $157.34 resistance level, the bullish momentum could start to overtake that of the bears.
Source: Trading View
