VanEck files for Solana ETF in US
VanEck took a significant step forward on Thursday with the submission of an S-1 filing to the SEC, marking its initiative to establish the "VanEck Solana Trust"—a move poised to bring about the first spot Solana (SOL) ETF within the U.S. market.
According to the filed document, the aim of this "exchange-traded fund" is to mirror Solana's market price performance by directly correlating the Trust's shares with SOL tokens. VanEck has its sights set on debuting this ETF on the Cboe BZX Exchange.
The submitted documentation makes it clear that the Trust, nor the Sponsor, will not participate in activities such as utilizing a portion of the Trust's SOL holdings to partake in staking to accrue additional SOL, or any actions aimed at generating income or earnings.
This announcement trails the previous month's decision by the U.S. Securities and Exchange Commission (SEC), which saw the approval of 19b-4 filings from various national exchanges. These approvals opened the path for these exchanges to introduce spot Ethereum ETFs onto their platforms. Although the official go-ahead for these Ethereum ETF S-1 filings by the SEC is pending, both commentary from the agency and insights from experts hint at a potential launch as soon as the upcoming week.
