u.today
New York-based investment firm VanEck has filed a proposal to launch a spot Solana exchange-traded fund (ETF).
This comes after the U.S. Securities and Exchange Commission (SEC) greenlit Bitcoin ETFs in January.
The regulator is also on track to complete the approval of several spot Ethereum ETFs.
Following the SEC’s U-turn on Ethereum, several analysts suggested that ETF issuers could push for more altcoin ETF.
As reported by U.Today, Ripple CEO Brad Garlinghouse predicted that the approval of multiple altcoin ETFs, including a Solana-based one, was inevitable.
The Solana price is up 8% over the past 24 hours.