According to the application, the share of the Coinshares Solana ETF fund will be traded on the NASDAQ exchange. Investors will be able to access SOL without the need to directly buy and store this cryptocurrency. The Castodians, which should provide direct storage of assets, indicate the services of Coinbase Custody and Bitgo.
CoinShares was the eighth company that applied for the launch of a sp-SOL-ETF. Previously, this was done by the management companies Vaneck, Fidelity, Grayscale, Franklin Templeton, Bitwise, 21Shares and Canary.
As a distinctive feature of the CoinShares cryptocurrency fund, a reward for steaking is announced. A remuneration for steaking is increasingly appearing in applications for the launch of cryptocurrency ETF, since management companies seek to offer customers products that will cover the entire potential of networks using the Proof-OF-Stake consensus algorithm (POS).
Over the past day, the Sol cryptocurrency rate has fallen by 3%, to $ 151. The daily trading volume of the coin amounted to $ 4.61 billion, and its market capitalization amounted to $ 79.72 billion.
Recently, the senior analyst in Bloomberg Intelligence, Eric Balchunas, said that SEC could approve the launch of the tied to SOL ETF in the coming months. It depends on how quickly the issues related to stakeing operations will be resolved.
Source: Bits
I am an experienced journalist, writer, and editor with a passion for finance and business news. I have been working in the journalism field for over 6 years, covering a variety of topics from finance to technology. As an author at World Stock Market, I specialize in finance business-related topics.
