The US SEC has discussed the securities attributes of SOL with ETF issuers

BlockBeats news, on August 20, The Block quoted people familiar with the matter as saying that before Cboe BZX deleted 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.

After the discussion, the SEC and Cboe agreed not to submit the 19b-4 form to the Federal Register. The 19b-4 documents submitted by Cboe on behalf of ETF issuers last weekend are no longer displayed on the exchange website. They are not currently in the Federal Register. For an ETF to be approved, the 19b-4 form must first be approved and the S-1 registration statement must also be effective.

Currently, VanEck's Solana ETF's S-1 registration statement is still displayed on the SEC's filing system EDGAR. 21Shares’ S-1 registration statement no longer appears in search results, but the direct link remains active.

The source said the SEC’s stance was not surprising to the issuer, given that it had previously called Solana a security in multiple court filings. The source said they expect there may be new filings or amendments to the 19b-4 in the future that would attempt to prove that Solana is not a security.

While both bitcoin and ethereum spot ETFs have cleared regulatory hurdles and begun trading, most market observers had expected the SEC to be more reluctant to approve the new Solana fund.