VanEck Submits Solana ETF Application in the US After Bitcoin and Ethereum Successes
VanEck has submitted an S-1 registration statement for the “VanEck Solana Trust,” marking the first attempt to launch a spot Solana (SOL) ETF in the United States. The ETF aims to mirror Solana’s price performance by directly backing the Trust’s shares with SOL tokens, with plans to list on the Cboe BZX Exchange.
The prospectus specifies that neither the Trust nor the Sponsor will utilize any portion of the Trust’s SOL for staking rewards or generating additional SOL or income. This move follows the SEC’s approval of 19b-4 applications from national exchanges to list spot Ethereum ETFs, with expectations that these ETFs could go live by next week.
This development underscores the growing interest in crypto ETFs, with VanEck’s filing signaling a significant step towards offering a Solana ETF to US investors. Stay tuned for updates on this evolving story.
