VanEck Files to List First U.S. Spot Solana Exchange-Traded Fund

Emboldened by the Securities and Exchange Commission's attitude towards spot bitcoin and ether ETFs, asset managers have been mulling ways to expand their portfolio to include other crypto tokens.

Investment manager VanEck filed on Thursday to list the first U.S. exchange-traded fund (ETF) tracking the spot price of crypto token solana , months after a regulatory approval for a similar product linked to bitcoin.

Asset managers have been looking at ways to add more crypto tokens to their portfolio after the Securities and Exchange Commission's stance on spot bitcoin and ether ETFs.

The SEC approved spot bitcoin ETFs in January after a decade-long battle and is set to clear ether ETFs as early as next week, according to Reuters.

ETFs give investors exposure to a specific cryptocurrency without having to hold it directly.

The market has attracted some of the biggest names in traditional finance, including BlackRock, which runs the largest spot bitcoin ETF.

VanEck did not disclose the fee it will charge for the fund, but said it will be listed on the Cboe BZX Exchange. VanEck also offers spot bitcoin and ether ETFs.

(Reporting by Niket Nishant in Bengaluru; Editing by Shounak Dasgupta and Maju Samuel)

The above is the detailed content of VanEck Files to List First U.S. Spot Solana Exchange-Traded Fund. For more information, please follow other related articles on the PHP Chinese website!