Head of Digital Asset Research at VanEck: Why did we apply for Solana Spot ETF?

VanEck Submits Solana Spot ETF Application

On the evening of June 27th, Beijing time, the American asset management institution VanEck submitted the Solana Trust (VanEck Solana Trust) application document to the U.S. Securities and Exchange Commission (SEC).

VanEck Solana Trust

The Trust is an exchange-traded fund (ETF) that issues equity shares of common stock and is scheduled to be listed for trading on the Cboe BZX Exchange, LLC. The Trust currently accepts subscriptions and redemptions in cash only. Previously, the Solana Trust launched by Grayscale did not support redemption.

VanEck’s View

Matthew Sigel, head of digital asset research at VanEck, said VanEck has applied for the first Solana ETF in the United States and shared why VanEck believes SOL is a commodity.

Solana as a commodity

Solana is an open source blockchain software known for its unique combination of scalability, speed and low cost. VanEck believes that Solana meets the following characteristics of a commodity:

• As a means of payment for transaction fees and computing services
• Can be traded or used for peer-to-peer transactions
• Has a wide range of applications and services, from DeFi to NFTs
• By distributed verification The decentralized nature, high practicality and economic feasibility of SOL make it a valuable commodity for investors, builders and entrepreneurs.

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