Status of Canary Capital and Solana ETF Canary Capital has made a significant move in the cryptocurrency arena by filing for a spot Solana ETF in the United States. This action highlights increasing institutional interest as it positions Canary Capital as the third asset manager to apply for such a fund, following similar initiatives from competitors like VanEck. Regulatory Environment: This filing comes amid ongoing deliberations by the Securities and Exchange Commission (SEC) concerning the approval of Bitcoin ETFs, indicating a possible shift in the regulatory landscape towards greater acceptance of cryptocurrency-based investment vehicles. Market Context: The filing arises in a context where investor interest in Solana (SOL) has been on the rise, particularly as its price has fluctuated, driven by a considerably lowered valuation after peaking in late 2021. Currently, the market cap for Solana stands at nearly $25 billion, having fallen from over $74 billion. Show Less