Search Results for keywords:"Solana Network"

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Search Results: keywords:"Solana Network"

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  • 2025-02682 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To List and Trade Shares of the Bitwise Solana ETF Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
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    Type:Notice
    Citation:90 FR 9772
    Reading Time:about 54 minutes

    The Securities and Exchange Commission is considering a proposal from Cboe BZX Exchange to list and trade shares of the Bitwise Solana ETF, which would track the performance of SOL, a digital asset on the Solana Network. This proposal argues that the ETF would provide a transparent and regulated way for U.S. investors to access SOL, potentially reducing risks and costs associated with alternative investments. Bitwise believes that the decentralized and global nature of SOL trading makes it difficult to manipulate, addressing past SEC concerns about market manipulation. The SEC seeks public comments on this proposal before making a decision on its approval.

    Simple Explanation

    Cboe BZX Exchange wants to offer a new way for people to invest in a digital money called Solana (SOL). They believe this will make it safer and easier for people to invest, and now they're waiting for the SEC to give the thumbs up.

  • 2025-02684 — Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Notice of Filing of a Proposed Rule Change To List and Trade Shares of the Canary Solana Trust, Under BZX Rule 14.11(e)(4), Commodity-Based Trust Shares
    💰
    Type:Notice
    Citation:90 FR 9756
    Reading Time:about 54 minutes

    The Securities and Exchange Commission has received a proposed rule change from the Cboe BZX Exchange, Inc. to list and trade shares of the Canary Solana Trust under BZX Rule 14.11(e)(4), which covers Commodity-Based Trust Shares. The Trust aims to track the performance of SOL, a digital asset from the decentralized Solana Network, focusing on preventing fraudulent and manipulative practices. To do this, they plan to utilize various security measures, including transparency in pricing and information dissemination. The SEC is seeking public comments before making a final decision, with the deadline set for March 11, 2025.

    Simple Explanation

    The Cboe BZX Exchange wants to let people buy and sell a new kind of share linked to Solana, a digital coin, and they asked the SEC for permission, which is like getting a thumbs-up. The SEC is thinking about it and asking people what they think before deciding, just like when you ask others if they like your new toy before you let everyone play with it.