The filing, submitted on Thursday, June 27, 2024, marks the first attempt to create a Solana ETF in the United States.
VanEck, a prominent New York-based investment firm, has filed a proposal with the SEC to launch a spot Solana ETF. The filing, submitted on Thursday, June 27, 2024, marks the first attempt to create a Solana ETF in the United States.
Earlier this year, in January, the SEC greenlit Bitcoin ETFs, paving the way for similar investment vehicles tied to other digital assets. The regulator also approved spot Ethereum ETFs in May.
VanEck, known for its innovative investment products, has not yet disclosed the fees it would charge for the proposed Solana ETF.
The crypto market reacted positively to the news. SOL saw a price surge, jumping 6% from $139 to $148 following the announcement.
Industry experts and executives have long anticipated this development. Brad Garlinghouse, CEO of Ripple, had previously predicted that the approval of multiple altcoin ETFs, including one based on Solana, was inevitable.
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