VanEck files for spot Solana ETF but will it gain approval?
Summary
VanEck has filed with the SEC to create a spot Solana ETF, reflecting the performance of SOL token. The ETF will not stake SOL tokens for rewards. The news led to a 10% price increase for SOL, causing losses for short traders. VanEck's rationale is that SOL functions like a commodity. Approval prospects depend on the absence of SOL futures and potential changes in SEC leadership. Market experts see this as a move towards mainstream financial acceptance of crypto.
