VanEck Files for Solana ETF, SOL Price Jumps 6%

VanEck Solana ETF SOL
Solana ETF: VanEck has filed an S-1 registration form with the SEC to launch a Solana (SOL) exchange-traded fund (ETF), resulting in SOL’s price surging over 6% to $148.

This marks the first U.S. ETF filing for Solana, following a recent launch of a similar product in Canada just six days earlier.

This move comes after the SEC’s approval of the first spot bitcoin (BTC) ETF in February and signals growing interest in crypto ETFs. Analysts anticipate significant inflows into ETH ETFs, projecting $5 billion in the first five months alone.

Matthew Sigel, head of digital assets research at VanEck, announced the Solana ETF filing, emphasizing Solana’s decentralized structure and utility.

The proposed fund, named VanEck Solana Trust, aims to track SOL’s price performance and is set to trade on the Cboe BZX Exchange pending SEC approval.

VanEck’s initiative follows the SEC’s recent approval of spot Ether ETFs in the U.S., marking Ether’s recognition as a commodity rather than a security and ending regulatory uncertainty.

Also Read: Trump Presidency Could Pave Way for Solana ETF, Major Crypto Trader Predicts

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