🪙 The regulatory status of Solana in the U.S. is hindering the launch of ETFs

The CBOE exchange has withdrawn its applications for launching Solana-based exchange-traded funds (ETFs) "at the request" of the SEC, the main securities regulator in the U.S. The agency continues to classify the SOL token as an unregistered security.

Companies aiming to launch Solana ETFs are currently in negotiations with the SEC.

In the summer of 2023, the SEC, in a lawsuit against Binance, classified several cryptocurrencies, including Solana, Polygon, Filecoin, Cardano, and others, as unregistered securities, implying that trading these assets violates U.S. laws. As a result, major trading platforms like Robinhood, eToro, and others delisted these cryptocurrencies.

Several companies, including those that launched similar funds for Bitcoin and Ethereum, have filed applications to launch so-called spot ETFs based on Solana.