VanEck's ETF for Solana with the ticker 'VSOL' has been registered in the DTCC database. This event is an important step towards potential SEC approval.
Introduction of ETF 'VSOL'
The proposed spot ETF on Solana by VanEck has appeared in the 'active and pre-launch' section of the DTCC website. This indicates that the ETF cannot yet be created or redeemed until the SEC gives approval. However, its presence on the DTCC list is seen as a positive signal among investors.
Expectations for SEC Approval
VanEck views this listing as part of the launch process, although it does not guarantee approval. The SEC has traditionally been cautious about approving spot crypto ETFs. Bloomberg analysts James Seyffart and Eric Balchunas expect the SEC to approve Solana ETFs in the coming month, particularly with CME preparing to launch Solana futures.
Increasing Interest in Solana ETFs
With growing demand for crypto ETFs, companies such as CoinShares, Bitwise, and Franklin Templeton are entering the competition for Solana ETFs. Some are even incorporating staking features, which may attract a broader base of investors.
The registration of the Solana ETF in the DTCC could be a catalyst for mainstream acceptance within the investment community. This event highlights the increasing interest in crypto ETFs and investors' desire to incorporate Solana into their portfolios.
