Constancy Investments is trying to create an exchange-traded fund (ETF) monitoring the worth of Solana (SOL), a submitting with the Securities and Alternate Fee on Tuesday exhibits.
Cboe Alternate uploaded a 19b-4 submitting to record a Solana ETF proposed by the $5 trillion Wall Road veteran. This comes after the agency registered a Constancy Solana Fund in Delaware final Thursday.
Constancy has but to submit an S-1 submitting, which is required for corporations looking for to challenge a brand new safety and be listed on a public inventory change.
Solana, at $74 billion, is presently the sixth-largest crypto asset by market capitalization on this planet. A number of asset managers have filed functions with the SEC to launch funds holding the token, together with Grayscale, Franklin Templeton and VanEck.
Final week, two ETFs (SOLZ and SOLT) monitoring SOL futures hit the market on Nasdaq, a big step in getting a spot exchange-traded product accredited.
Constancy has beforehand issued two spot crypto ETFs: the Constancy Sensible Origin Bitcoin Fund (FBTC) and the Constancy Ethereum Fund (FETH). Each launched final yr. FBTC has attracted almost $17 billion in property — or bitcoin — and FETH handles roughly $975 million.
Lots of Constancy’s shoppers are considering proudly owning cryptocurrencies and a big portion already does. The agency has been engaged on its digital asset ecosystem since 2014.