<ul data-eligibleForWebStory="true"><li>CoinShares, a leading digital asset manager in Europe, has filed with the SEC to launch a spot Solana exchange-traded fund (ETF) on Nasdaq, seeking regulated exposure to blockchain assets.</li><li>CoinShares plans to offer direct exposure to Solana's native cryptocurrency by tracking the CME CF Solana–Dollar Reference Rate, with Coinbase Custody Trust and BitGo as custodians for secure asset storage.</li><li>Eight firms, including heavyweight financial institutions like Fidelity and Grayscale, are competing to bring Solana ETFs to U.S. markets, showing significant interest in Solana's high-performance blockchain platform.</li><li>Regulatory uncertainty looms over these ETF applications, with the SEC seeking clarification on operational mechanics like in-kind redemptions and potential inclusion of staking features within the ETF structure.</li><li>Bloomberg analysts estimate a 70% approval chance for Solana ETFs, but decisions may be delayed as the SEC reviews the filings, looking at factors such as network outages, security vulnerabilities, and price volatility.</li></ul>

Solana ETF Race Intensifies as CoinShares Files New SEC Application

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