The First U.S. Solana ETF Filing
Coinbase Sues SEC & FDIC Over Regulations, Logan Paul Sues Coffeezilla Over NFT Scam Allegations
VanEck has filed to sell shares in the US's first Solana ETF via the S-1 registration form for the SEC.
This comes following a Solana ETP filing by 3iQ in Canada
VanEck is quite a pioneer in the space, having filed for a spot Ethereum ETF as early as 2021, and is continuing its crypto adoption in TradFi attempts with Solana.
VanEck's head of digital assets research Matthew Sigel argued on Twitter that Solana is not a security but a commodity, being used for transaction fee coverage and computational services on-chain.
He also said that VanEck picked Solana because it's nearly a direct competitor to Ethereum with its scalability features.
Even prior to the S-1 filing, the crypto community and experts discussed the potential for Solana as the next crypto ETF, after Ethereum ETFs. Others suggested XRP.
Solana’ SOL token jumped by nearly 8% following the announcement.
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