By Kapil Rajyaguru
Solana ETF Applications Reach Next Stage in SEC Review.
In a regulatory filing Tuesday, the Securities and Exchange Commission (SEC) opened up public comment on the “Canary Solana Trust,” a proposed ETF from Canary Capital that would bring SOL investing into mainstream finance. The SEC acknowledged similar filings from VanEck, 21Shares, and Bitwise later in the day.
The filing sets the pace for these companies’ proposed investment vehicle. In 21 days the SEC will render a verdict (approval or denial) or, perhaps more likely, kick the decision can with deadline extensions.
Franklin Templeton Registers Solana Trust in Delaware.
Asset manager Franklin Templeton has registered a trust in Delaware tied to a proposed spot Solana exchange-traded fund (ETF)—indicating that it may soon look to launch the fund in the US.
A filing to Delaware’s corporate regulator shows the “Franklin Solana Trust” was formed on Feb. 10 by the CSC Delaware Trust Company, which has registered crypto trust products for other asset managers such as Bitwise.
If approved, the Franklin Solana Trust would seek to track the price movement of the world’s fifth-largest cryptocurrency, which CoinGecko shows has a $97 billion market cap.
Trump to Tap Former CFTC Commissioner, a16z Policy Head Brian Quintenz for CFTC Head.
Brian Quintenz, a one-time commissioner with the Commodity Futures Trading Commission (CFTC), and Andreessen Horowitz’s (a16z) head of policy, will be Donald Trump’s choice to run the federal commodities regulator.
Quintenz previously served with the regulator between 2017 and 2021, where he organized the Technology Advisory Committee. During his time as commissioner, he said a self-regulatory organization specific to the crypto industry could help oversee companies.
Since leaving the agency, he joined a16z, where he became the head of policy. A16z was one of the major funders of Fairshake, a crypto-focused political action committee that poured close to $140 million into the 2024 election.
Uniswap Labs Officially Launches Layer-2 ‘Unichain’.
Uniswap Labs, the primary developer behind Uniswap, shared Tuesday that its long-awaited layer-2 network, Unichain, is now live.
The OP Stack, a modular framework based on Optimism’s optimistic rollup technology, serves as the foundation for the network.
Unichain has been in testing since October 2024 and is classified by Uniswap Labs as a “stage-1” rollup, meaning it has elements of decentralization but retains some centrally controlled safeguards at this early phase.
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