A new digital asset manager has filed to launch a spot Solana exchange-traded fund (ETF), joining a growing pile of hopefuls that also includes the established firms VanEck and 21Shares.
Canary Capital—which this month filed to the Securities and Exchange Commission (SEC) for XRP and Litecoin products—made the S-1 filing for the proposed Canary Solana ETF on Wednesday.
An ETF is a popular investment vehicle that trades on stock exchanges. If the SEC were to approve the Canary Solana ETF, investors would be able to buy shares that track the price of SOL, and gain exposure to the coin without having to purchase and store cryptocurrency.
SOL is the fifth-biggest digital asset. Its native blockchain is used for decentralized applications (dapps), decentralized finance (DeFi), meme coins, and more. It’s seen as a key rival to
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Author: Mathew Di Salvo
