Canary Capital wants to launch an ETF solana. Its application was filed with the SEC via form S-1.
Canary Solana ETF, managed by Canary Capital Group, will hold SOL as its sole asset, calculated daily using the CF CME Solana-Dollar reference rate provided by CF Benchmarks. The fund’s net asset value (NAV) will reflect SOL prices based on aggregate trade flow from various digital platforms. In other words, the price of the ETF will be calculated on an average smoothed by the volume of the price of the exchanges made on the various exchanges.
Interest in the institutional public towards Solana is growing. This is very promising because considering the effects that ETFs have had on the price of Bitcoin and Ethereum, this could herald good news for SOL. Currently the cryptocurrency ranks 5th in the TOP, if we remove the stablecoin Tether, SOL comes 4th.
Another good news, VanEck is betting on Solana. The company announced an offer to invest as part of its Solana-based Exchange Traded Note (ETN). The Solana network collects over 100,000 tokens each month, partly from the meme coin. All this is good news, but it should be noted that the SEC has not yet given its green light to the Solana ETFs.
