Source: SEC rejects Cboe’s 19b-4 application for Solana spot ETF

Sources revealed that the US SEC rejected two Solana spot ETF 19b-4 applications submitted by Cboe BZX. As a result, these applications have been withdrawn from the Cboe website. The 19b-4 application is submitted by the trading platform (Cboe in this case) on behalf of the issuer. If it is published in the Federal Register, it will initiate the SEC's approval process. Another important form is the S-1 registration statement, which is submitted by the issuer and does not have any deadline. However, because the SEC rejected the 19b-4 forms, these forms have never been published in the Federal Register, and therefore have not initiated the potential approval or rejection process. BlockBeats previously reported that at 8:00 on August 20, before Cboe BZX removed the Solana ETF-related 19b-4 form from the website, the US SEC had held talks with potential Solana ETF issuers and expressed concerns about Solana's potential status as a security. (The Block)