VanEck Solana Trust Awaits SEC Nod: Bureaucracy vs. Blockchain Buzz
Published Date: 5/23/2025
Notice
Summary
The SEC is deciding whether to approve the Cboe BZX Exchange’s plan to list and trade shares of the VanEck Solana Trust, a new commodity-based investment. This affects investors interested in Solana-related assets and could open up fresh trading opportunities soon. The decision is expected by May 19, 2025, and could impact how easily people buy and sell these shares.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
25,000-Share Cash Redemption Rule
If you buy shares of the VanEck Solana Trust, the Trust will sell or redeem its Shares only in cash transactions with authorized participants and only in blocks of 25,000 Shares. The Trust's assets will consist only of SOL, cash, and cash equivalents and its Shares will be valued daily to reflect SOL prices.
Cboe May List Solana Trust Shares
You could get a new way to trade Solana exposure: the SEC is deciding whether Cboe BZX can list and trade shares of the VanEck Solana Trust, which aim to reflect the price of SOL. The Commission set May 19, 2025 as the date to approve or disapprove the proposal; the SEC invites comments by June 13, 2025 and rebuttals by June 27, 2025.
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Previous / Next Documents
Previous: 2025-09254 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of the Bitwise Solana ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
The SEC is deciding whether to approve the Cboe BZX Exchange’s plan to list and trade shares of the Bitwise Solana ETF, a new fund tied to the Solana cryptocurrency. This affects investors interested in crypto ETFs and could open up fresh trading options soon. The decision will be made by May 19, 2025, and could impact how easily people buy and sell these shares.
Next: 2025-09256 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove a Proposed Rule Change To List and Trade Shares of the Canary Solana Trust Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
The Cboe BZX Exchange wants to start trading shares of the Canary Solana Trust, a new commodity-based investment. The SEC is now deciding whether to approve or reject this plan, with a decision expected by May 19, 2025. If approved, investors could soon buy and sell these shares, potentially opening new ways to invest in Solana-related assets.