VanEck Files Application for a Solana ETF in the US

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VanEck, a leading issuer of Bitcoin exchange-traded funds (ETFs) in the US, has submitted a request for a new Solana ETF.

On June 27, Matthew Sigel, the company’s head of digital assets research, announced the filing with the US Securities and Exchange Commission.

The proposed fund, the VanEck Solana Trust, seeks to benefit from Solana’s decentralized nature, high utility, and economic viability.

According to Sigel, this is the first attempt to launch a Solana ETF in the US. In his announcement, Sigel highlighted why VanEck believes SOL should be classified as a commodity: “We view the native token, SOL, as functioning similarly to other digital commodities such as Bitcoin and Ether.

It is used for paying transaction fees and computational services on the blockchain.

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