Vanguard Applies for Approval of Its First Crypto ETF

CBOE Seeks Approval for Fidelity, Solana ETF

The Chicago Board Options Exchange (CBOE) has submitted a filing with the United States Securities and Exchange Commission (SEC) to list and trade Fidelity's proposed Solana ETF.

The ETF, which is managed by Fidelity Investments, will track the Solana blockchain's SOL token. The fund aims to provide investors with exposure to the cryptocurrency market, specifically the Solana blockchain, which has gained popularity in recent times.

Solana is a fast-growing blockchain platform that has gained attention for its high transaction speeds and low fees. The SOL token is the native cryptocurrency of the Solana network and has seen significant price appreciation in recent months.

The proposed ETF will track the SOL token's price movement and will be listed on the CBOE's BZX Exchange. The ETF will have a total expense ratio (TER) of 0.75%, which is relatively low compared to other cryptocurrency ETFs.

The filing marks the latest move by Fidelity to expand its offerings in the cryptocurrency space. The company has been a pioneer in the cryptocurrency space, offering a range of products and services, including a cryptocurrency exchange and a custody solution.

The approval of the ETF is subject to the satisfaction of all regulatory requirements and the receipt of all required approvals from the SEC. If approved, the ETF will be the first to track the Solana blockchain's SOL token.

The news has been met with excitement by the cryptocurrency community, which has been eagerly awaiting the launch of a Solana-related ETF. The move is seen as a significant step forward for the cryptocurrency market, providing investors with a new way to gain exposure to the Solana blockchain.