The Chicago Board Options Exchange (Cboe) has filed with the Securities and Exchange Commission (SEC) to list Solana exchange-traded funds (ETFs). The largest US options exchange is now waiting for SEC approval. This move signals a growing interest among investors in Solana.

New Players in the Game

Per Monday filings, Cboe has confirmed that two asset managers, VanEck and 21Shares, will list their SOL ETFs on the exchange.

Matthew Sigel, head of digital assets at VanEck, described it as the "first Solana exchange-traded fund in the US," if approved. He added, "We look forward to engaging with the SEC during the review period."

Similar Buzz to Bitcoin ETFs

The products, dubbed 'VanEck Solana Trust' and '21Shares Core Solana ETF,' will be similar to the buzz created by the spot Bitcoin ETFs, which the SEC approved in January.

If the SEC acknowledges the filings, a 240-day review period begins. During this period, the regulator must decide whether to approve the products.

Both asset managers filed the S-1 with the SEC to launch Solana's new products in June. If approved, these products would mark the third wave of spot crypto ETFs.

Further, VanEck, 21Shares, and several others are waiting for the regulator's approval of spot Ether ETFs.

According to a Reuters report, two people familiar with the ETH ETFs approval process noted that these products would likely be live within the next week.

Cboe Move Signals Strong Interest in Solana

Cboe already hosts several spot Bitcoin ETFs and is preparing for a potential Ether ETF listing. The exchange is now embracing the third most traded crypto - Solana.

"We are now addressing the increasing investor interest in Solana," said Rob Marrocco, global head of ETP listings at Cboe. The options exchange lists six spot Bitcoin ETFs out of 10 approved by the regulator. This includes Bitcoin ETF products from Fidelity, Ark/21Shares, and VanEck.

The approval of Solana ETFs would diversify the crypto investment options and validate Solana's growing importance in the digital asset market. Investors are eagerly watching the SEC's next move, which could open up new avenues for crypto investments.