VanEck Company filed filed a registration application with the U.S. Securities and Exchange Commission (SEC) for the VanEck Solana Trust exchange-traded fund. It will invest directly in the crypto asset, rather than in contracts based on it.
According to the papers, the product, if approved by the SEC, will be traded on the Cboe BZX exchange. The custodian will be Delaware Trust Company. The fund’s ticker symbol, as well as the fund management fee, are not disclosed in the application.
Notably, the filings clearly emphasize that the ETF issuer is moving away from staking Solana (SOL) and other activities that may fall under this definition.
As a result of the news, the token rate jumped by more than 7%. At the time of writing, it is trading at $147, according to TradingView:
Previously, experts said that Solana funds are more likely to be approved by the SEC after the launch of Ethereum-based products. At the same time, information appeared in the press earlier that an investigation had been launched against the project.
We also reported on a product from 3iQ. The company has applied to launch a spot Solana-ETF in Canada.
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Source: Cryptocurrency
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