SEC Reportedly Rejects $SOL ETF Filings As Brazil OKs 2nd Solana Fund

The U.S. has yet to approve its first spot Solana ETF, while Brazil has already approved its second. (Credit: Solana Twitter Video/Screenshot)

KEY POINTS

• The SEC labeled Solana and 11 other crypto tokens as securities in its lawsuit against Binance
• The CBOE has reportedly removed its two prospective $SOL ETFs from its website
• Brazil became the world's first to approve a Solana ETF earlier this month – it approved a second fund Tuesday

Solana ($SOL) was on a roll earlier this month after Brazil became the first country in the world to approve a spot Solana exchange-traded fund (ETF), but slumped by over 2% overnight amid a report that the U.S. Securities and Exchange Commission (SEC) has rejected proposals for two prospective funds.