The US Securities and Stock Exchange Committee (SEC) has made a worthy observation of the possible introduction to the new financial products based on Altcoin by recognizing several files for Solana ETFS.
Possible solana etfs
In the organization presentationSEC opened the word for general comments on the proposed “Canary Solana Trust”, which aims to facilitate the prevailing investment in Sol.
This deposit indicates that both the stock market and the shepherd believe that the proposal, along with its accompanying analysis, is suitable for proving compliance with the law.
Specifically, they argue that there are sufficient measures to prevent fraud and manipulation, which would justify the neglect of the monitoring participation agreement with a large-sized-size organized market-according to what has been done for each of the investment funds circulating in Bitcoin and Ethereum.
As a key to approval of this Solana investment funds, the committee also highlighted that over the past years, the exposure of the American investor with Solaa, as billions of dollars flow through Sol (OTC) funds via a prescription and various digital asset trading platforms.
The Stock Exchange confirms that the approval of these Solana investment funds, along with similar proposals, will provide us with investors access to Sol through an organized and transparent vehicle.
This would help reduce the risks associated with investing in encrypted currencies by reducing premium fluctuations and discount, reducing management fees due to increased competition, and providing an alternative to keep directly to Sol.
A teacher to accept Soul in traditional financing
The logical basis of the stock market addresses concerns about manipulating the Sol Market. They claim that the nature of the Solana ecosystem makes it particularly resistance to price processing.
The factors contributing to this flexibility include the various geographical and continuous nature of Sol trading, making efforts to manipulate prices.
Unlike traditional stock markets or commodity markets, Solana Trading does not suffer from issues such as internal information about revenues or display disorders, which may lead to manipulation.
The stock market also argues that it turned through various Sol trading platforms, in addition to increasing the user's participation and trading sizes, making the significant manipulation unlikely.
Arbitration opportunities through trading places require a coordinated effort to manipulate the global price, which is difficult due to the diverse nature of Sol trading.
The suggested Canary Solana Trust will work under the supervision of Deaware Trust Company as the guardian, with a third party official responsible for the Cash and Cash rewards management.
The fund's assets will only consist of a Sol, Cash or Cash. It will not be classified as an investment company under the Investment Company Law of 1940, and will not be organized as an operator or a commodity collection consultant.
Everywhere, SEC's approval of these Solana Etfs proposals would indicate a big step forward for Altcoin federations, which reflects an increasing acceptance of the encrypted currency as a legitimate element of traditional financial markets.
Despite these developments for Solana Etfs demands, the Sol price has failed to rise with it, as it is currently trading at $ 196, as it recorded a remarkable decrease of 17 % in the fourteen timetable.
Distinctive image from Dall-E, Chart from TradingView.com
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