VanEck Files for Solana ETF with SEC
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.
READ MORE: Binance Takes Action Against Fraudulent Accounts Following Megadrop Event
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.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
