21Shares filed an S-1 application with the United States Securities and Exchange Commission for a spot Solana (SOL) exchange-traded fund (ETF) on June 28. The fund will be called the 21Shares Core Solana ETF. This is the second application the SEC has received for a spot SOL ETF, following VanEck’s filing on June 27.

The proposed ETF will trade on the Cboe BZX Exchange. Coinbase will serve as the custodian for the fund’s Solana (SOL) holdings, which will be insured privately. The fund will not participate in validating or staking SOL. The value of SOL in the fund will be determined daily at 4:00 ET.

21Shares is a crypto-native financial technology company headquartered in Zurich, Switzerland. It already offers future Ether (ETH) and spot and future Bitcoin (BTC) ETFs in the United States.

The price of SOL rose rapidly from $139 to $150 on the news of the VanEck filing. It settled at $141.58 at 12:00 pm ET, according to CoinMarketCap.

This is a developing story, and further information will be added as it becomes available.