{"id":98570,"date":"2024-10-30T20:12:22","date_gmt":"2024-10-31T00:12:22","guid":{"rendered":"https:\/\/coinscreed.com\/staging\/?p=98570"},"modified":"2024-10-30T20:13:32","modified_gmt":"2024-10-31T00:13:32","slug":"canary-capital-files-solana-etf-application","status":"publish","type":"post","link":"https:\/\/coinscreed.com\/staging\/canary-capital-files-solana-etf-application\/","title":{"rendered":"Canary Capital Files Solana ETF Application with US SEC"},"content":{"rendered":"\n

The crypto asset manager has filed for a spot\u00a0Solana ETF,<\/a> following earlier filings for XRP and Litecoin ETFs in October.<\/p>\n\n\n\n

\"Canary<\/figure>\n\n\n\n

Crypto asset manager Canary Capital has filed with the U.S. Securities and Exchange Commission for a spot Solana exchange-traded fund (ETF), following similar applications by VanEck and 21Shares.<\/p>\n\n\n\n

The proposed spot Solana ETF would track SOL\u2019s price using the Chicago Mercantile Exchange CF Solana index, which provides a real-time price benchmark, according to Canary's S-1 registration statement\r\n \r\n \r\n \r\n <\/g>\r\n \r\n \r\n \r\n <\/clipPath>\r\n <\/defs><\/svg><\/span><\/a> filed on Oct. 30. <\/p>\n\n\n\n

The ETF would offer investors access to the Solana market via a traditional brokerage account, eliminating the direct risks of holding SOL.<\/p>\n\n\n\n

Solana is anticipated to be the next cryptocurrency to gain a spot ETF, following SEC approvals of Bitcoin and Ether spot ETFs in January and July. <\/p>\n\n\n\n

\"Canary
Canary\u2019s spot Solana ETF filing with the Securities and Exchange Commission. Source: SEC<\/em><\/figcaption><\/figure>\n\n\n\n

VanEck and 21Shares are the other asset managers that filed for a spot SOL ETF on June 27 and 28, respectively, and Franklin Templeton is reportedly also considering a similar move.<\/p>\n\n\n\n

Canary's filing did not specify a custodian for the ETF or the ticker under which it would be listed. <\/p>\n\n\n\n

This latest application follows previous S-1 filings by Canary Capital for a spot XRP ETF<\/a> on Oct. 8 and a spot Litecoin ETF on Oct. 15.<\/p>\n\n\n\n

Solana\u2019s price saw a slight uptick in response to the news, though it remains down 2.3% over the last day at $174.6, according to CoinGecko data<\/use><\/svg><\/span><\/a>. <\/p>\n\n\n\n

In an Oct. 29 post, Canary highlighted Solana's dominance in active address market share, surpassing both Ethereum and Binance Chain, even when accounting for layer 2 chains.<\/p>\n\n\n\n

Founded by Steven McClurg, a co-founder of Valkyrie Funds and former managing director at Galaxy Digital under Mike Novogratz, Canary Capital stated on Oct. 1: \u201cWe founded Canary to lead the way for the next iteration of actively managed and passive crypto-related offerings with a focus on risk management and adaptive, strategic foresight.\u201d <\/p>\n\n\n\n

This came shortly after the launch of Canary's first trust offering, the Canary HBAR Trust.<\/p>\n","protected":false},"excerpt":{"rendered":"

The crypto asset manager has filed for a spot\u00a0Solana ETF, following earlier filings for XRP and Litecoin ETFs in October. Crypto asset manager Canary Capital has filed with the U.S. Securities and Exchange Commission for a spot Solana exchange-traded fund (ETF), following similar applications by VanEck and 21Shares. The proposed spot Solana ETF would track […]<\/p>\n","protected":false},"author":56,"featured_media":98587,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[12094,7713,7957,710,940,143,275],"class_list":["post-98570","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-adoption-2","tag-altcoin","tag-asset-management","tag-business","tag-etf","tag-sec","tag-solana"],"jetpack_featured_media_url":"https:\/\/coinscreed.com\/staging\/wp-content\/uploads\/2024\/10\/Canary-Capital-Files-Solana-ETF-Application-with-US-SEC.webp","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/98570","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/users\/56"}],"replies":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/comments?post=98570"}],"version-history":[{"count":0,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/posts\/98570\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media\/98587"}],"wp:attachment":[{"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/media?parent=98570"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/categories?post=98570"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinscreed.com\/staging\/wp-json\/wp\/v2\/tags?post=98570"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}