The U.S. Securities and Exchange Commission (SEC) has acknowledged a recent Solana ETF application proposed by Canary Capital.
This comes after the SEC also acknowledged Grayscale’s Solana ETF filing earlier this month.
Franklin Templeton has registered a new Delaware entity, which indicates that it is likely preparing to join the Solana ETF race in the near future.
As reported by U.Today, VanEck was the first to propose a Solana ETF back in June. Since then, several other issuers have followed suit.
Bloomberg analysts currently see a 70% chance of such a product being approved
The uncertain regulatory status of the SOL token appears to be the main hindrance on the road to approval. It is worth noting that the token was repeatedly named as a security in several SEC lawsuits.
The SOL price is currently down 3.1% despite the most recent acknowledgment.
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