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The Bitcoin ETF issuer, VanEck, has recently submitted an application for the ETF Solana in the United States (USA).
According to the head of digital asset research at VanEck, the company is the first in the United States to apply for a Solana ETF, marking an important step forward in the bull sector of bear investments in cryptocurrencies.
Let’s see all the details below.
Summary
VanEck: pioneers in ETF innovation, the demand for Solana in the USA
As anticipated, VanEck, one of the pioneers in issuing spot Bitcoin exchange-traded funds (ETF) in the United States, recently submitted an application for a new ETF on Solana.
This move represents a further step forward for the company in expanding the offering of investment products in the cryptocurrency sector.
Matthew Sigel, head of digital asset research at VanEck, announced on June 27 on X (formerly known as Twitter) that the company has filed with the United States Securities and Exchange Commission (SEC) the application for the Solana ETF.
The new fund, named Vaneck Solana Trust, aims to capitalize on the high utility and economic feasibility of the blockchain Solana.
According to Sigel, this is the first filing for a Solana ETF in the country, highlighting VanEck’s commitment to innovation and the expansion of the ETF market linked to digital assets.
Solana as a commodity: VanEck’s vision
Sigel explained the reasons why VanEck considers SOL, the native token of Solana, a commodity:
“We believe that the native token, SOL, functions similarly to other digital commodities like Bitcoin and Ether. It is used to pay transaction fees and computational services on the blockchain. Like ether on the Ethereum network, SOL can be traded on digital asset platforms or used in peer-to-peer transactions.”
In any case, the demand for the Solana ETF by VanEck represents an important evolution in the landscape of cryptocurrency investments.
With the Vaneck Solana Trust, investors will have the opportunity to access Solana through a regulated investment vehicle, paving the way for greater adoption and recognition of SOL as a valuable digital asset.
This passage highlights VanEck’s confidence in Solana’s potential and its growing role in the world of criptovalute.
3iQ Corp. submits application for a Solana ETP in Canada
The digital asset manager 3iQ recently filed an application for a Solana (SOL) exchange-traded product (ETP). If approved, this ETP will be traded on the Toronto Stock Exchange (TSE) in Canada.
The official announcement was shared on X (Twitter):
“3iQ Corp. is excited to announce that we have filed a preliminary prospectus for The Solana Fund (QSOL) in Canada for an initial public offering.”
This move underscores the company’s ongoing commitment to innovation. If the application receives regulatory approval, the Fund will become the first Solana product listed in North America on a public market.
Furthermore, the approval will bring Solana to a wider audience, increasing the exposure to SOL in the long term.
This year, the ETF market has seen the approval of various Bitcoin Spot-based ETFs in the US market. Recently, the SEC has also given the green light to an Ethereum ETF.
Both approvals have triggered significant price increases in Bitcoin and ETH, with a growing demand both nationally and globally.
The selling pressure has significantly decreased, while the large holdings of BTC have continued to increase. The outlook for Ethereum is equally rosy, with major players predicting a long-term recovery in price performance.