VanEck has filed an application with the SEC for a spot Solana ETF, leading to a 7% rise in Solana’s price. If approved, the ETF will be listed on the Cboe BZX exchange, with Delaware Trust Company as custodian.
The VanEck Solana Trust will invest directly in Solana, avoiding derivative contracts or staking activities. This straightforward approach aims to attract investors focused on Solana’s price performance.
Previously, 3iQ also filed for a Solana ETF in Canada, showing growing interest in Solana as an investment. VanEck’s move could legitimize Solana further, increasing both institutional and retail interest.
The SEC’s decision on this application could set a significant precedent for future crypto ETF approvals, impacting the broader cryptocurrency market.
