According to Matthew Sigel, head of the digital asset research department at asset management company VanEck, although the Chicago Board of Options (Cboe) has withdrawn its regulatory filing for listing Solana exchange traded funds (ETFs) on the exchange, VanEck's Solana ETF plan is "still ongoing".

Sigel wrote on the X platform: 'Some people have noticed that the 19b-4 file of VanEck Solana ETF has been removed from the CBOE website.'. Please note that exchanges like Nasdaq and CBOE will propose rule changes (19b-4) to list new ETFs, while issuers like VanEck are responsible for the prospectus (S-1). Our work is still ongoing

On July 9th, Cboe submitted an application to the US Securities and Exchange Commission (SEC) seeking to list the Solana ETF under the VanEck and 21Shares plans, and requested the SEC to make a final decision by March next year. This application is referred to as the 19b-4 document, which is different from the S-1 submitted by the issuer.

According to sources cited by The Block, the SEC expressed concerns about Solana's securities nature in conversations with potential ETF issuers before Cboe removed the relevant 19b-4 files from its website. According to informed sources, after discussion, the SEC and Cboe agreed not to submit the 19b-4 document to the Federal Register as it would initiate the approval process and put pressure on the SEC.

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