Canary Solana Trust Faces SEC Review Delay Until May
Published Date: 3/17/2025
Notice
Summary
The SEC is taking extra time to review a plan from the Cboe BZX Exchange to list and trade shares of the Canary Solana Trust, which is tied to the Solana cryptocurrency. This means investors and traders interested in these new shares will have to wait until May 19, 2025, for a final decision. No money changes yet, but this move could open new trading options soon!
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Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Decision Delayed Until May 19, 2025
The SEC extended its review and set May 19, 2025, as the deadline to approve or disapprove the proposed rule change to list the Canary Solana Trust. The normal 45-day review (which would have ended April 4, 2025) was extended so the Commission has more time to consider the filing.
Proposed Listing of Solana-Linked Trust Shares
Cboe BZX filed a proposed rule change on January 28, 2025, to list and trade shares of the Canary Solana Trust under BZX Rule 14.11(e)(4), a commodity-based trust share. If the Commission approves the proposal, BZX would be able to list and trade those Solana-linked trust shares on its exchange.
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