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Cboe BZX Exchange has officially filed form 19b-4 for a new Solana exchange-traded fund with the U.S. Securities and Exchange Commission.
The filing with the SEC sees Cboe officially add Fidelity’s proposed Solana (SOL) ETF to the growing list of altcoin related applications before the U.S. securities watchdog.
With form 19b-4, Cboe is looking for SEC’s approval of a proposed rule change that will see the exchange list and trade shares of the Fidelity Solana Fund. Application for a nod from the regulator follows the registration of a Solana trust with the CSC Delaware Trust Company.
Fidelity Investments now joins a host of industry players seeking regulatory approval for spot Solana ETFs from the SEC. They include Canary Capital, Franklin Templeton, Grayscale and VanEck.
The 19b-4 filing comes just a day after Fidelity also sought SEC’s greenlight for a blockchain-based fund tracking its money market fund.
Scramble for ETFs continues
As crypto.news highlighted, the company is looking to unveil an ETF for its on-chain fund the Fidelity Treasury Digital Fund. The fund, with ticker FYHXX, holds cash and U.S. Treasury securities.
While the scramble for spot ETFs goes a notch higher with Cboe BZX’s filing with the SEC, the market is looking to gauge demand via the performance of Solana futures ETFs. Florida-based Volatility Shares debuted the Volatility Shares Solana ETF and Volatility Shares 2X Solana ETF on March 20, 2025.
The two products, with ticker symbols SOLZ and SOLT respectively, saw notable volume on launch, which has prompted analysts to predict potential demand.