Solana exchange-traded funds may arrive on Wall Street in 2025 as issuers privately disclosed dialogue with the SEC and President Donald Trump’s administration buoyed industry hopes.
S-1 and 19b-4 forms are the two official paperwork required to bring new ETF classes to market. Issuers typically handle the registration of securities or S-1 filings, while exchanges oversee 19b-4s, which propose rule changes to allow new listings.
The SEC is not obligated to approve filings after receiving documents from issuers and exchanges. In August, the CBOE removed 19b-4 forms filed for VanEck and 21Shares on its website.
Heightened confidence regarding a relaxed approach to digital assets from U.S. authorities bolstered hopes of expanding the existing crypto ETF suite. Feedback from SEC agency staff raised optimism for possibly launching Solana ETFs next year.