u.today
The U.S. Securities and Exchange Commission (SEC) has acknowledged a recent Solana ETF application proposed by Canary Capital.
This comes after the SEC also acknowledged Grayscale's Solana ETF filing earlier this month.
Franklin Templeton has registered a new Delaware entity, which indicates that it is likely preparing to join the Solana ETF race in the near future.
As reported by U.Today, VanEck was the first to propose a Solana ETF back in June. Since then, several other issuers have followed suit.
Bloomberg analysts currently see a 70% chance of such a product being approved
The uncertain regulatory status of the $SOL token appears to be the main hindrance on the road to approval. It is worth noting that the token was repeatedly named as a security in several SEC lawsuits.
The $SOL price is currently down 3.1% despite the most recent acknowledgment.