- SEC approves 21Shares Solana ETF Form 8-A on Cboe BZX Exchange.
- Solana treasuries increased 230% in September with $2B in holdings.
- Polymarket shows 99% odds for Solana ETF approval before year-end.
The U.S. Securities and Exchange Commission has approved the Form 8-A filing by 21Shares for its Solana Spot ETF. The registration enables the fund to list on the Cboe BZX Exchange, signaling that trading could begin soon.
The approval has renewed optimism among traders who expect Solana to challenge its previous highs near $300. However, the ongoing U.S. government shutdown has paused further reviews of S-1 filings required for the full launch of crypto ETFs.
While 19b-4 filings were processed under the Generic Listing Standards, ETF issuers still need registration under the Securities Acts of 1933 and 1934. Other firms, including Bitwise and Grayscale, have withdrawn filings, potentially delaying their effectiveness.
Multiple Solana ETF Filings Await Further SEC Action
Despite the temporary review halt, analysts expect a series of Solana ETF approvals once regulatory activities resume. ETF specialist Nate Geraci stated that several issuers, including Franklin Templeton, Fidelity, CoinShares, and VanEck, have already submitted updated S-1 documents.
Geraci mentioned on X that October could be an essential month for digital asset ETFs. He added that some proposals also include staking options, which may appeal to institutional investors. The first Solana Spot ETF outside the United States began trading in Hong Kong on October 16, managed by China Asset Management (Hong Kong).
Treasury Accumulation and Market Outlook
According to data from Coingecko, digital asset treasuries have increased their Solana holdings by 230% in September, totaling over $2 billion. Ray Youssef, CEO of NoOnes, said companies such as Forward Industries and Helius led this accumulation phase.
Pantera Capital described Solana as being at a turning point in its adoption as the third-largest digital asset after Bitcoin and Ethereum. Meanwhile, Polymarket data indicates a 99% probability of U.S. approval for a Solana ETF before the end of 2025.
Technical analysts view the current SOL price range between $166 and $180 as a consolidation phase. A breakout above $216 could support a move toward the $260–$300 zone in the coming weeks.
Disclaimer: This article is for informational purposes only and does not constitute financial advice. CoinCryptoNewz is not responsible for any losses incurred. Readers should do their own research before making financial decisions.
