21Shares has submitted a new amendment for its Solana ETF as market attention intensifies around SOL’s weakening price structure. The S-1/A filing dated November 17 introduces several administrative adjustments that include a ticker change to 21SH, updated share registration language, and a revised IRS employer identification number.
The updated document keeps the broader framework of the ETF unchanged while signaling ongoing progress toward regulatory clearance. This development arrives during a week when Solana trades near its lowest levels in months, creating a notable intersection between regulatory movement and market pressure.
Filing Adjustments and Regulatory Structure
The updated filing confirms the ETF’s plan to track the CME CF Solana-Dollar Reference Rate. It also confirms that the fund will avoid leverage and derivatives. Additionally, the document outlines a staking component that the sponsor may activate if regulatory conditions remain favorable.
The filing also explains the creation and redemption process, which continues to use 10,000-share baskets. Moreover, the document identifies Coinbase Custody, Anchorage Digital, and BitGo as the custodians responsible for holding the ETF’s SOL.
The sponsor kept the broader structure unchanged. Hence, the new amendment highlights incremental progress rather than major strategic shifts. The filing lists Cboe BZX as the expected exchange and retains earlier language about continuous issuance. Besides the technical mechanics, analysts note that the amendment signals continued engagement with regulators during a challenging market period for Solana.
Solana Price Holds a Key Band Despite Heavy Selling
Solana trades near $130 after a sharp weekly decline that erased more than 22%. Price stabilizes around the $138–$142 zone, where buyers previously attempted to slow downside pressure.
Source: X
BitGuru noted that SOL continues to grind through consolidation zones. He added that price now sits near a region that often fuels short-term rebounds. Hence, traders watch $140 as the next pivot. A sustained move above that area opens room toward the $155–$170 cluster.
Umair Crypto observed bullish divergences on both the daily and 4-hour charts. He said these signals often precede relief moves. However, he warned that any decisive breakdown under $138 cancels the signal and exposes deeper liquidity zones. Analysts identify $120 as the next downside magnet if momentum weakens further.
