Cboe Files for Solana ETF Listing with Fidelity, Joining Growing Wave of Altcoin ETFs

Cboe has filed a 19b-4 form with the U.S. Securities and Exchange Commission (SEC) to list shares of a Fidelity exchange-traded fund (ETF) that tracks the price of Solana. While this is a significant step in the SEC's approval process, Fidelity still needs to submit an S-1 registration statement outlining the product.

This filing follows Fidelity's recent registration of a Delaware Trust entity for its Solana fund, which will be based on the performance of the sixth-largest digital asset by market capitalization. As of now, Solana is trading around $147, up by nearly 1.2% in the last 24 hours, according to CoinGecko.

In addition to Fidelity, other firms like Grayscale, Bitwise, Canary, 21Shares, VanEck, and Franklin Templeton, have also submitted filings for Solana spot ETFs. Bloomberg Senior ETF Analyst Eric Balchunas has estimated a 70% chance that Solana ETFs will gain approval this year, although the timing remains uncertain.