PANews reported on October 31 that according to Cointelegraph, crypto asset management company Canary Capital has followed the practices of VanEck and 21Shares and submitted an application for a spot Solana ETF to the U.S. Securities and Exchange Commission (SEC). Canary explained in the S-1 registration statement filed on October 30 that the spot Solana ETF will track the price of SOL through the CF Solana Index of the Chicago Mercantile Exchange (CME). The spot Solana ETF proposed by Canary will enable investors to enter the Solana market through traditional brokerage accounts without facing the possible barriers to entry or risks of directly holding SOL. Canary did not disclose who the custodian of the spot SOL ETF is, nor did it specify under which stock code the fund will be listed.