US regulatory agency rejects Solana ETF filings

SEC had talks in recent days with ETF issuers amid concerns over Solana's status as a security

By Ovunc Kutlu

ISTANBUL (AA) - The US' Securities and Exchange Commission (SEC) rejected filings of a cryptocurrency firm's Solana exchange-traded funds (ETFs), according to multiple reports Wednesday.

The 19b-4 filings submitted by Cboe, which is one of the largest US equities market operators, were rejected by the SEC amid concerns over Solana's classification as a security.

The filings are important documents that exchanges, such as Cboe, submit on behalf of ETF issuers to the regulatory agency.

The SEC had talks in recent days with prospective Solana ETF issuers amid its concerns over Solana's status as a security, according to the reports.

Solana blockchain platform's native crypto token SOL ranks fifth among cryptocurrencies with $66.4 billion market cap as of Wednesday.

Kaynak: