🚀 Solana ETF Drama: 21Shares Tweaks Filing, SEC Raises Eyebrows 😏

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Ah, the crypto circus! 🎪 The race for a Spot Solana ETF has become a ballet of ambition, with asset managers pirouetting in their finest suits, applications in hand. As the curtain nears its final drop, 21Shares has leaped onto the stage, bowing to the SEC’s whims with an updated filing. Bold? Perhaps. Desperate? Surely. 🕺

21Shares: The SEC’s New Pen Pal 📝

In a move as dramatic as a Pasternak novel, 21Shares has submitted a revised Spot Solana ETF application. The Solana ecosystem holds its breath, while the crypto market whispers, “Will this be the chapter where tradition meets innovation, or just another footnote in the ledger of rejections?” 📉✨

SolanaFloor, the town crier of SOL news, trumpeted this development on X, as asset managers scramble to outdo Bitcoin and Ethereum’s dominance. Because, let’s face it, who doesn’t want a slice of the SOL pie? 🥧

The updated filing, a love letter to the SEC, addresses regulatory concerns with the grace of a poet and the precision of a bureaucrat. In-kind redemptions? Check. Regulatory compliance? Double-check. Will it be enough to woo the SEC? Only time—and a mountain of paperwork—will tell. ⏳

The 21Shares Core Solana ETF, sponsored by the formerly named Amun Holdings Limited, trades on the Cboe BZX Exchange. It promises investors a waltz into the SOL market without the drama of direct exposure. A brokerage account, they say, is the safer path—no spot market pitfalls, just the occasional existential crisis. 🕳️

But here’s the twist: the Trust’s SOL will be held by Coinbase Custody Trust Company, LLC, insured by private companies, not the FDIC. Because why have federal protection when you can roll the dice with private insurers? 🎲

The ETF Frenzy: Everyone Wants a Piece of the SOL 🌞

Since the Solana ETF craze began, companies have been lining up like pigeons at a park bench. The latest? Cboe BZX Exchange, filing for the Invesco Galaxy SOL ETF. Their pitch? Regulated access to SOL with staking incentives. Revolutionary? Maybe. Overhyped? Definitely. 🚀

If approved, the Invesco Galaxy SOL ETF would join the elite club of Solana spot ETFs in the US. Cash and in-kind creations? Allowed. Redemptions? Also allowed. But will the SEC play along, or will they be the grumpy critic in the back row? 🤔

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2025-07-31 19:43