CBOE BZX Exchange has regained the race for the Solana investment funds, which resulted in the reconstruction of a new set of requests on behalf of four major investment companies on Tuesday.

Exchange Present New 19B-4 files for Canary Solana Trust, BitWise Solana Etf, 21shares Core Solana Etf and Vaneck Solana Trust.

With these requests, the Securities and Stock Exchange Committee will restart the review process of Solana Investment products. It comes after withdrawing Previous applications Last year at the request of the organizer.

If it is approved, the circulating investment funds will provide this exposure to the traditional investors of Solana without keeping the encryption directly, which may lead to the expansion of access to the digital asset market.

Latest deposits ride on the momentum of ETF encryption approvals, with Bitcoin and ethereum Products that acquire SEC cleansing in early 2024.

However, unlike the largest encryption in the world, Solana faces unique organizational obstacles.

The primary challenge focuses on whether Solana is qualified as a commodity or security, which is discrimination Proven In ETF approvals related to the previous industry.

Canary Solana Trust and VNECK Solana Trust are seeking approval under the parties to the commodity -based confidence.

The proposals reflect the successful Bitcoin and ETHER ETF strategies, arguing that Sol is qualified as a commodity through its decentralized structure and consensus of consensus.

Based on the documents listed by CBOE BZX and reviewed by DecipherBoth proposals to prevent manipulation without monitoring sharing agreements are usually required by SEC, noting the volume of trading and global markets around the clock.

While sharing the basic arguments about the condition of the Sol commodity and the maturity of the market, the proposals reveal distinctive ways to address organizational concerns.

VANECK emphasizes the decrease in the concentration of ownership and the independence of the auditor, which provided data that shows that the higher property decreased to 26.5 % last year.

On the other hand, Canary focuses on operational guarantees such as the separate cold storage and NAV (the value of the net assets) detailed, as both sponsors carefully put their products within the Etf Crypto Commune.

Meanwhile, GrayScale followed up separately. Company foot In December to convert the current Solana confidence into ETF in Nyse Arca.

The batch comes at a time when Solana maintains its site as the third largest encryption, as the market value exceeds 111 billion dollars, according to Data From Coingecko.

Edit Sebastian Senkler