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VanEck filed an S-1 registration statement on Thursday for its “VanEck Solana Trust”—the first public attempt to launch a spot Solana (SOL) ETF in the United States.
The prospectus states that the product will be an “exchange-traded fund” designed to “reflect the performance of the price of Solana” by backing the Trust’s shares directly with SOL tokens. VanEck intends to list the ETF on the Cboe BZX Exchange.
“Neither the Trust nor the Sponsor… will engage in any action where any portion of the Trust's SOL is used to earn staking rewards, to earn additional SOL or to generate income or other earnings,” the statement clarified.
The filing comes after the U.S. Securities and Exchange Commission (SEC) approved 19b-4 applications from national exchanges last month allowing them to list spot Ethereum ETFs on their platforms. The S-1 statements for said Ethereum ETFs have yet to be greenlit, though the agency’s comments and expert analysis suggest they could go live by next week.
This story is breaking and will be updated with additional information.