VanEck applied to launch ETF on Solana in Germany

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The American company VanEck continues to develop its cryptocurrency products and plans to launch an exchange traded fund (ETF) for the SOL cryptocurrency in Germany.

The Solana ecosystem is growing rapidly, and the SOL exchange rate is growing at a record pace. Institutional investors have been investing heavily in products for the Solana cryptocurrency for several weeks now. Thus, in the week from September 6 to September 10, it was these investment products that attracted 86% of institutional investors’ funds.

There are no details about the application yet, but earlier the head of research of digital assets of VanEck Matthew Sigel (Matthew Sigel) noted the rapid development and prospects of Solana. He also stressed that the number of smart contracts on the Solana network is growing rapidly.

“You can get throughput of 50,000 transactions per second, which is comparable to the Nasdaq exchange. This allows any number of existing assets to be tokenized and simultaneously traded using the Solana platform, ”Siegel said.

In late August, VanEck withdrew an application to launch an Ether ETF filed with the US Securities and Exchange Commission (SEC). The reasons for the withdrawal of the application were not disclosed, but, most likely, the regulator made it clear that it would not approve such an ETF.

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