VanEck Advances Solana ETF Launch With Critical SEC Filing

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VanEck Advances Solana ETF Launch With Critical SEC Filing

• VanEck filed Form 8-A with the SEC, signaling imminent launch of its Solana spot ETF.

• The ETF will feature a competitive 0.30% management fee and staking via SOL Strategies.

VanEck ‍ ‌‍ ‍‌ ‍ ‌‍ ‍‌ is moving forward in a big way with its Solana exchange-traded fund opening the way for the Form 8-A submission to the Securities and Exchange Commission. This filing is the last regulatory checkpoint before the actual trading, thus, the product can be expected to see the light of day within a very short period. The decision aligns with the trend of investors continually craving Solana-centric investment vehicles and the resulting robust demand appearing in the ‍ ‌‍ ‍‌ ‍ ‌‍ ‍‌market.

Final Filing Signals Imminent Trading Launch

The ‍ ‌‍ ‍‌ ‍ ‌‍ ‍‌ asset management company‘s Form 8-A filing is typically the very next step that leads to ETF trading activities starting on exchanges. Observers of the market are expecting that the VanEck Solana fund will be able to offer new shares to the public as early as today once the regulatory authority gives the green light. The filing is a clear indication of VanEck’s resolve to make Solana available to U.S. institutional and retail investors in a regulated manner.

Last month, VanEck decided to make a significant change to its S-1 filing and resubmitted it, revealing a competitive annual management fee of 0.30% for investors. The company explained its approach to staking, stating that it would work with SOL Strategies to carry out the staking and, at the same time, create more returns. In this way, the fund becomes different from the traditional crypto ETFs as it can potentially offer some yield as a result of network ‍ ‌‍ ‍‌ ‍ ‌‍ ‍‌participation.

Current ‍ ‌‍ ‍‌ ‍ ‌‍ ‍‌ Solana ETFs have been on a roll, with spot products seeing capital inflows for the thirteenth consecutive day on Thursday. Information reveals that these funds received about $1.49 million; thus, total net inflows have reached $370 million since the launch of BSOL by Bitwise. It was Bitwises product that attracted most of the inflows on Thursday, while Grayscale saw no new capital in its fund during the session.

LVRG Research analyst Nick Ruck said that the reaction to Solana ETFs was even beyond the expectations before the launch, calling them high-beta alternatives. He argued that through these products, institutions can get highly targeted exposure to the ecosystem with possibly better returns than Bitcoin and Ethereum funds.

While the ETFs have been doing well, Solanas native token has dropped by 6% to around $143, though it is still holding a sizable $79 billion valuation. To attract more institutional market participants, Grayscale has recently introduced options trading for its Solana Trust, thereby allowing the implementation of more sophisticated trading ‍ ‌‍ ‍‌ ‍ ‌‍ ‍‌strategies.