Solana A Security? SEC Concerns Reportedly Led To Pause In ETF Filing Process
Portfolio Pulse from Aniket Verma
The SEC has raised concerns about Solana's classification as a security, leading to a pause in ETF filings related to Solana. Cboe Global Markets and the SEC decided not to submit necessary forms for ETF approval, halting the process. Despite this, Solana's price rose by 2.72%.
August 20, 2024 | 5:14 am
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Cboe Global Markets decided not to submit forms for Solana ETFs due to SEC concerns about Solana's classification as a security, affecting the ETF approval process.
Cboe Global Markets is directly involved in the ETF filing process. The decision not to submit forms due to SEC concerns impacts their operations related to Solana ETFs, but the overall impact on Cboe's stock price is neutral as it is one of many products they handle.
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