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

BlockBeats news, on August 20, according to The Block, 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 As a result, these applications have been withdrawn from the Cboe website.

19b-4 applications are submitted by the trading platform (Cboe in this case) on behalf of the issuer. If 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 no potential approval or rejection process has been initiated.

BlockBeats previously reported that at 8:00 on August 20, before Cboe BZX deleted the Solana ETF-related 19b-4 form from its website, the U.S. SEC had held talks with potential Solana ETF issuers and expressed concerns about Solana's potential status as a security.