After Bitcoin & Ethereum ETF, now VanEck, a prominent investment management firm based in New York City, has filed for a Solana ETF. However, doubts hover over whether the current administration will approve it. Notably, Senior Bloomberg ETF Analyst James Seyffart predicts that a Solana ETF could hit the market by 2025.
In a recent tweet post Matthew Sigel, head of digital assets research at VanEck, announced that the firm has submitted a filing to the U.S. Securities and Exchange Commission (SEC) for a Solana ETF.
However, the new fund, called the VanEck Solana Trust, aims to capitalize on Solana’s decentralized nature, high utility, and economic feasibility. Sigel mentioned that this is the first filing for a Solana ETF in the United States.
VanEck’s filing specifies that if approved by the SEC, the VanEck Solana Trust will be listed on the Cboe BZX Exchange. This development comes shortly after Canadian investment firm 3iQ Corp filed a preliminary prospectus for the Solana (SOL) Fund (QSOL) in Canada.
James Seyffart suggests that the Solana ETF might only get a chance to launch in 2025. This would depend on changes in the White House and the SEC. Right now, the current administration makes it hard for new ETFs to get approved.
However, this move is expected to draw a lot of attention from investors and industry experts.
With traditional investors increasingly drawn to these ETFs, attention has now shifted to Ethereum ETFs expected to debut this year. The recent filing for a Solana ETF by VanEck could signal a similar trajectory for Solana, potentially paving the way for further ETF products in the market.
Analysts like Seyffart suggest that major firms such as BlackRock, Grayscale, and Franklin Templeton might follow suit, leading to a new phase of growth for SOL.
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