According to Odaily, informed sources have revealed that before the Cboe BZX removed the related Solana ETF 19b-4 filing, the U.S. Securities and Exchange Commission (SEC) held discussions with potential issuers regarding concerns about Solana’s potential status as a security. Following these discussions, the SEC and Cboe agreed not to submit the 19b-4 form to the Federal Register, which would have initiated the approval process. This decision was made to avoid pressuring the SEC into making a decision related to the Solana ETF. VanEck’s Solana ETF S-1 registration statement remains visible in the SEC’s EDGAR filing system, while 21Shares’ S-1 registration statement no longer appears in search results, although direct links remain active. The source indicated that given the SEC’s previous references to Solana as a security in multiple court documents, this stance from the SEC was not unexpected for issuers and does not necessarily indicate setbacks for these applications. They anticipate that new filings or amendments to the 19b-4 form may be submitted in the future to more robustly argue that Solana is not a security. Audrey Belloff, Head of Communications at 21Shares, stated, ‘We cannot comment on regulatory procedures at this time. We remain committed to expanding investor access to cryptocurrencies in the U.S. market and globally.’ Last week, X user @SummersThings disclosed that the 19b-4 forms for VanEck and 21Shares Solana ETFs appeared to have been removed from the CBOE website.
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