VanEck, known for pioneering spot Bitcoin exchange-traded funds (ETFs) in the United States, has filed for a new ETF focused on Solana.
Matthew Sigel, head of digital assets research at VanEck, announced on June 27 that the company has submitted a filing with the U.S. Securities and Exchange Commission (SEC) for a Solana ETF.
The proposed fund, named the VanEck Solana Trust, aims to leverage Solana’s decentralized architecture, utility, and economic viability, according to Sigel. He highlighted that this filing represents the first attempt to launch a Solana ETF in the United States.
In his statement, Sigel explained why VanEck views SOL as a commodity, stating:
“We believe SOL, the native token, operates similarly to other digital commodities like Bitcoin and Ether. It is used for paying transaction fees and computational services on the blockchain. Like Ether on Ethereum, SOL can be traded on digital asset platforms or used in peer-to-peer transactions.”
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