🚨 SEC Bows to Fidelity’s Whim… For Now 🤔

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In the grand tapestry of bureaucratic existence, a minor yet tantalizing thread has been tugged. The U.S. Securities and Exchange Commission (SEC), that great and powerful Oz, has deigned to acknowledge Fidelity’s humble filing for a spot Solana (SOL) exchange-traded fund (ETF). Because, truly, what is the pursuit of innovation without the SEC’s benediction? 🙏

This monumental event transpired on March 25, 2025, when Cboe BZX Exchange, with all the fanfare of a whispered secret, submitted the filing. And, because April Fool’s Day is for lovers of irony, an amendment was added on April 1, seeking to list and trade shares of the Fidelity Solana Fund under the exchange’s rules for commodity-based trust shares. One can almost hear the sound of regulatory wheels creaking into motion… 🕳️

Should this ETF receive the SEC’s nod of approval (and herein lies the suspense that has captivated a nation… or at least a segment of the financial sector), investors will be granted the thrilling opportunity to flirt with Solana without the scandalous intimacy of directly holding the cryptocurrency. A setup eerily reminiscent of the Bitcoin and Ethereum ETFs, for those who enjoy such vicarious thrills. 😏

Fidelity’s bold (or some might say, cautiously optimistic) move is a clarion call, signaling the growing institutional interest in Solana, a blockchain as speedy as a St. Petersburg pickpocket and as scalable as the human imagination. And yet, the SEC’s stance on non-Bitcoin crypto ETFs remains shrouded in the uncertainty of a Russian winter, its cautious approach to Ethereum ETFs a stark reminder that in the world of crypto, only the future is certain… and not even that. ❄️

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2025-04-03 21:24