The SEC has turned down Cboe BZX’s Solana ETF applications, resulting in their disappearance from the site.
Despite filing issues, the SOL price looked stable, but bearish momentum persisted.ETFs have mysteriously vanished from the Chicago Board Options Exchange website.According to sources familiar with the matter, the U.S. Securities and Exchange Commission had rejected CBOE BZX’s filings for theseHowever, despite the removal of the filings from the CBOE website,In a recent update on X , Sigel affirmed that their ETF application is still under consideration, stating, “ours remains in play.
This statement aims to remove concerns and clarify that the withdrawal of the filings does not signal the end of their Solana ETF proposal. “Remember that Exchanges like Nasdaq & CBOE file rule changes to list new ETFs. Issuers like VanEck are responsible for the prospectus . Ours remains in play.”For those unaware, on the 9th of July, CBOE submitted a 19b-4 filing to the SEC, requesting approval to listHowever, as of the 9th of August, the filing was no longer visible on CBOE’s website, leading to speculation about the current status and potential withdrawal of the ETF proposals.
Notably, the SEC’s rejection of the 19b-4 forms means the Solana ETF applications haven’t moved forward for approval.That being said, this news seemed to not upset many, as noted by an X user-“At this point all the experienced people know what a scam Solana is this is why there won’t be a Sol ETF.”SOL’s price action also remained relatively stable despite the news, showing a modest increase of 1.3% in the past 24 hours and trading at $145.
But, if SOL manages to surpass the resistance level of $157.34, bullish momentum may begin to outpace the bears.
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