•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

According to U.S. corporate law firm Carpenter Wellington PLLC, there is growing interest in Solana ETFs following a more favourable U.S. regulatory environment for cryptocurrencies. Several major companies (Bitwise, VanEck, 21Shares, and Canary Capital) have filed for a spot Solana ETF with the SEC, which would trade on the CBOE.

Solana is a blockchain platform launched in 2020 which uses a consensus algorithm called Proof of History (PoH) to provide smart contract functionality. Its native cryptocurrency, SOL, is typically among the top five cryptocurrencies by market cap. The blockchain has experienced several major outages, was subjected to a hack, and a class action lawsuit was filed alleging that Solana sells unregistered securities and misled investors about the number of tokens. The SEC has also filed a lawsuit against a cryptocurrency exchange alleging that Solana should be regulated as a security. Its market cap declined with the bankruptcy of FTX at the end of 2022 but has been recovering since. MSN reported on Jan.2 that Solana had just seen a more than 10% intraday rally (to about $209) following a $55m transfer from Pump.fun's fee account to the Kraken cryptocurrency exchange.

This interest follows t......................

To view our full article Click here