Solana

Bitcoin ETF

Million

<ul class="list-ic vertical"> 
 <li> 1 <a>VanEck filed the first US exchange-traded ETF for Solana in late June.</a> </li> 
 <li> 2 <a>VanEck Solana ETN has given a return of 44.2% as of year to date and has $68.4 Million in assets.</a> </li> 
 <li> 3 <a>Solana is currently trading near the value of $149, with a slight gain in the intraday session.</a> </li> 
</ul> 
VanEck has nearly $102 Billion in assets under management and has recently filed for the Spot Solana ETF. It is highly unlikely that the Exchange Traded Fund (ETF) will be approved soon. It is still a bullish scenario for the overall crypto space.&nbsp; 
The head of digital assets research at VanEck, Matthew Sigel, wrote on X that the Solana ecosystem supports a broad range of applications from DeFi to NFT, which says a lot about SOL’s utility and value as a digital commodity. 
Solana ETF will allow investors to invest in it through their stock brokerage accounts. These will help SOL have a substantial inflow of money from institutions or retailers who could not invest through other methods. The similar launch of SPOT Bitcoin ETF was transformative and propelled a strong BTC growth. 
<h2 class="wp-block-heading" id="strong-a-look-into-vaneck-filling-and-etn-performance-strong">A Look Into VanEck Filling and ETN Performance</h2> 
VanEck submitted form S-1 in Delaware for the Solana Trust ETF. The VanEck Solana Trust is an ETF that aims to reflect the performance of the price of <a href="https://www.thecoinrepublic.com/2024/05/09/solana-sol-crypto-price-turned-bearish-what-next/" target="_blank" rel="noreferrer noopener">Solana (SOL)</a> cryptocurrency minus the expenses of the Trust’s operations.&nbsp; 
The Trust will hold SOL and value its shares daily based on the MarketVectorTM Solana Benchmark Rate, calculated based on prices from the top five SOL trading platforms. The Trust provides investors with exposure to SOL without the potential barriers or risks involved with holding or transacting SOL directly. 
<h3 class="wp-block-heading" id="strong-overview-of-the-solana-trust-strong">Overview of the Solana Trust</h3> 
– The Trust issues common shares representing a fractional undivided beneficial interest in the Trust. – The Trust will hold SOL and value its shares daily based on the MarketVectorTM Solana Benchmark Rate, calculated based on prices from the top five SOL trading platforms. – The Trust will not engage in Staking Activities or earn any staking rewards or income. – Shareholders have no voting rights with respect to the Trust 
Solana ETN has given 44.2% and currently has $68.4 Million in net assets. It has a total expense ratio of 1.5% with a NAV of $8.07. The performance of Solana ETN indicates that the Solana ETF will observe a strong inflow of money. 
<h3 class="wp-block-heading" id="strong-an-overview-of-solana-s-performance-strong">An Overview Of Solana’s Performance</h3> 
When writing, Solana has a market cap of $69 Billion and is ranked 5th in the crypto verse. It has a median transaction fee of $0.00064 and has seen 340 Million NFT minted on the platform.&nbsp; 
Solana has a TPS of 3284 at the time of writing, and as the hardware improves, so does the overall performance of the Solana network. It can outperform the Ethereum network in the coming future. 
Solana ETF can positively impact the overall price performance of SOL, similar to Bitcoin. However, the ETF needs to observe a strong inflow in the coming future for this to happen. It will be interesting to see how Solana performs when the ETF comes into play. 
<h4 class="wp-block-heading">Disclaimer</h4> 
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.

Will Solana ETF Observe A Strong Inflow And Push The Price To $500

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Thecoinrepublic.com

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