23 May 2025
📈SEC Review of Cboe BZX's Canary Solana Trust Proposal
Self-Regulatory Organizations; Cboe BZX Exchange, Inc.; Order Instituting Proceedings To Determine Whether To Approve or Disapprove 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
Summary
The SEC is considering a proposed rule change allowing Cboe BZX Exchange to list and trade shares of the Canary Solana Trust, which aims to track the performance of the digital asset SOL. This regulatory review addresses legal and policy issues, seeking public comment on the initiative's alignment with investor protection standards.
Agencies
- Securities and Exchange Commission
Business Impact
$$ - Med
The proposed rule change regarding the Canary Solana Trust may significantly affect businesses and financial markets by introducing new investment vehicles (Commodity-Based Trust Shares). This impacts compliance and regulatory requirements for firms wishing to engage with digital assets, specifically SOL.