coinspress.com
VanEck, known for being among the first to issue spot Bitcoin ETFs in the U.S., has now filed for a Solana ETF.
On June 27, Matthew Sigel, VanEck’s head of digital assets research, announced on X that the company has submitted a Solana ETF application to the U.S. Securities and Exchange Commission (SEC).
The new fund, named VanEck Solana Trust, aims to leverage Solana’s decentralized nature, utility, and economic benefits. Sigel emphasized that this is the first Solana ETF filing in the U.S.
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Sigel explained the reasoning behind considering SOL as a commodity.
He compared it to Bitcoin and Ether, noting that SOL is used to pay for transaction fees and computational services on the Solana blockchain and can be traded on digital asset platforms or used in peer-to-peer transactions.