21shares has submitted a registration statement to the U.S. Securities and Exchange Commission (SEC for the creation of a solana exchange-traded fund (ETF). The ETF, will be listed on the Cboe BZX Exchange, aims to provide investors with exposure SOL, the native digital asset of the Solana blockchain. To ensure secure custody of, 21shares will utilize Coinbase Custody Trust Company. Vaneck has also recently for a solana ETF with the SEC.
Asset management company 21shares has taken towards launching a solana ETF by filing Form S-1 with the SEC. The 21shares Core Solana ETF is structured as a Delaware statutory trust and will be traded the Cboe BZX Exchange. Acting as its sponsor is 21shares U. LLC.
The primary objective of this trust is to track SOL’s performance on the Sol blockchain while considering expenses and other liabilities incurred by the trust itself.
The solana offers investors an opportunity to gain exposure to SOL without directly investing in cryptocurrencies. To safeguard holdings of SOL, it will rely on Coinbase Custody Trust Company as its regulated third-partyodian. Authorized participants can create or redeem shares through cash deposits or transfers that are then for buying or selling SOL according to market demands.
While providing potential benefits, such as exposure SOL’s price movements, it’s important to note that there are risks associated with investing this trust. These risks include volatility in SOL’s value, potential regulatory challenges related to, vulnerabilities in technology infrastructure, and potential liquidity issues within cryptocurrency markets.
Fees related to this trust include a Sponsor Fee alongside other operational expenses; however, custody and security measures SOL are managed by the dedicated custodian known as “SOL Custodian.”
In to 21shares’ filing for a solan
