tl;dr
Swiss-based asset management firm 21Shares has filed a solo application to list a Solana ETF in the United States, following a move by rival VanEck. The application is based on the premise that Solana is not a security under US laws, but 21Shares may pull its application if this status changes. The ...
Swiss-based asset management firm 21Shares has filed a solo application to list a Solana ETF in the United States, following a move by rival VanEck. The application is based on the premise that Solana is not a security under US laws, but 21Shares may pull its application if this status changes. The conversation around a Solana ETF gained traction after the SEC approved spot Bitcoin ETF trading and with the recent approval of 8 Ethereum ETFs. 21Shares plans to offer the potential ETF on the Cboe BEZX exchange, aiming to provide investors with exposure to SOL without direct coin investment. VanEck's head of Digital Assets Research believes the regulatory landscape is shifting, and 21Shares' move aligns with this perspective. The Supreme Court's recent decision has implications for regulatory power, potentially impacting upcoming crypto products like Solana ETFs.
According to the filing from 21Shares, the application is hinged on the premise that Solana is not a security under US laws. Should the digital currency become labeled as a security by the United States Securities and Exchange Commission (SEC), 21Shares might pull its application. The conversation surrounding a Solana ETF became ignited when the SEC approved spot Bitcoin ETF trading. The altcoin pitch for the product also grew with the 8 Ethereum ETF approvals last month. If the permutations that made the SEC approve Ethereum are applied, 21Shares and VanEck remain optimistic that Solana might also get approval for its ETF. In the meantime, 21Shares plans to offer the potential ETF “on the Cboe BEZX exchange.” Like other recently approved crypto ETFs, the Solana ETF is touted as a convenient and cost-effective method for investors to gain investment exposure to SOL without making a direct investment in the coin. By engaging this approach, investors are not likely to be affected by the risks associated with holding these crypto.
VanEck’s head of Digital Assets Research, Matt Sigel, recently discussed the decision to move ahead with the filing for Solana ETF, stating, “We believe that the regulatory landscape is shifting.” 21Shares latest move suggests that it agrees with VanEck on the pivot in the digital asset regulatory plane. In the coming weeks, more applications may show up from other asset managers. The Supreme Court's recent decision overturns a long-standing regulatory power held by federal authorities, including the SEC, potentially ushering in a new era for crypto firms and upcoming crypto products like Solana ETFs.
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Forum Energy Technologies Inc Summary
Forum Energy Technologies, Inc. designs, manufactures, and distributes products for the oil and natural gas industry in the United States and internationally. The company is headquartered in Houston, Texas.
Sector: Technology
Industry: Oil & Gas Field Machinery & Equipment
Market Cap: 205.26B
Dividend Yield: None
Beta: -2.36
Current Price: $70.19
Price Change: -3.42%
Volume: 752.30M
Relative Strength Index (RSI): 30
Price/Earnings Ratio: -0.578
Earnings per Share: $0.071
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Emeren Group Ltd, ReneSola Ltd, develops, builds, operates and sells solar energy projects. The company is headquartered in Stamford, Connecticut.
Industry: MANUFACTURING, SEMICONDUCTORS & RELATED DEVICES
Market Cap: 86,495,000
Dividend Yield: None
Revenue (ttm): -0.16
EPS (ttm): 1.918
Profit Margin: -0.127
Volume: 106,582,000
50-Day Moving Average: 4.88
200-Day Moving Average: 3.42
Price Change over 52 weeks: 0.148
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APA Corporation Technical Analysis Summary
APA Corporation, the holding company for Apache Corporation, is engaged in hydrocarbon exploration. It operates in the Energy & Transportation sector, specifically in the Crude Petroleum & Natural Gas industry.
Key Metrics:
- Market Cap: $10.79 billion
- Current Price: $3.263
- Dividend Yield: 1%
- PE Ratio: 8.91
- EPS: $26.44
- Beta: 0.34
- Volume: 8.08 billion
- 52-Week Range: $39.78
- 50-Day Moving Average: -0.438
- 200-Day Moving Average: -0.005