Solana

<ul><li>nEck&#39;s filing lacks a ticker symbol or fee details for the Solana Trust ETF.</li><li>Solana ranks fifth by market cap, with a 900% gain in 2023.</li></ul><a href="https://cryptotale.org/solana-faces-persistent-decline-down-37-despite-bitcoins-stability/" rel="noopener noreferrer nofollow">Solana</a> experienced its most significant rally in over a month after VanEck, an exchange-traded fund (ETF) issuer, submitted a filing for a product based on the crypto. The token surged by up to <a href="https://www.bloomberg.com/news/articles/2024-06-27/solana-surges-after-vaneck-files-for-fund-based-on-the-token?utm_source&#61;telegram&amp;utm_content&#61;crypto&amp;utm_medium&#61;social%5C" rel="noopener noreferrer nofollow">11%</a>, marking its highest increase since late May, following the paperwork submitted to the Securities and Exchange Commission (SEC) on Thursday. VanEck aims to launch the VanEck Solana Trust, which would hold the token directly. The filing, however, did not list a ticker symbol or specify any associated fees.VanEck’s filing aligns with a trend of new applications for ETFs focused on various cryptocurrencies. Issuers are seeking innovative ways to introduce these products, following the success of Bitcoin ETFs launched earlier this year, which attracted billions in assets. The crypto community is now keenly watching for the debut of funds based on Ether, the second-largest token. VanEck&#39;s move underscores the growing interest in diversified crypto assets and the push for broader acceptance and integration of these assets into mainstream financial instruments.Solana currently ranks as the fifth-largest crypto by market cap, according to CoinGecko. Data compiled by Bloomberg shows that the token gained more than 900% in 2023. Per Bloomberg, Rich Rosenblum, co-CEO of digital-asset firm GSR, highlighted <a href="https://cryptotale.org/sol-etf-incoming-3iq-pioneers-solana-focused-investment-product-in-canada/" rel="noopener noreferrer nofollow">Solana’</a>s role in Web3, noting its significant utilization rather than just its price rise. Rosenblum stated,<a href="https://cryptotale.org/vaneck-etf-filing-sparks-solanas-biggest-rally-in-over-a-month/" rel="noopener noreferrer nofollow">Read more on CryptoTale.</a>Visit the links for more information <a href="https://cryptotale.org/" rel="noopener noreferrer nofollow">Website</a> | <a href="https://twitter.com/cryptotalemedia" rel="noopener noreferrer nofollow">Twitter </a>| <a href="https://t.me/cryptotale_news" rel="noopener noreferrer nofollow">Telegram </a>| <a href="https://www.instagram.com/cryptotalenews/" rel="noopener noreferrer nofollow">Instagram </a>|

VanEck ETF Filing Sparks Solana's Biggest Rally in Over a Month

CryptoTale

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