Bitcoin ETF issuer VanEck files for Solana ETF in the US
VanEck, one of the first issuers of spot Bitcoin exchange-traded funds (ETF) in the United States, has filed for a new Solana ETF.
Matthew Sigel, head of digital assets research at VanEck, took to X on June 27 to announce that the firm has filed for Solana ETF with the U.S. Securities and Exchange Commission (SEC).
The new fund, called Vaneck Solana Trust, aims to capitalize on Solana’s ( SOL ) decentralized nature, high utility and economic feasibility, Sigel said. According to the executive, the trust is the first filing for a Solana ETF in the country.
In the post, Sigel provided a few remarks on why the company believes that SOL is a commodity. He wrote:
“We believe the native token, SOL, functions similarly to other digital commodities such as Bitcoin and Ether. It is utilized to pay for 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.”
This is a developing story, and further information will be added as it becomes available.
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