VanEck explains why to apply for Solana ETF! Bloomberg analysts reveal the key to listing

VanEck applied for Solana ETF

1. VanEck submitted application documents

Just around 9pm yesterday (27th), asset management giant VanEck confirmed that it had submitted the Solana Fund (VANECK SOLANA TRUST) to the US SEC ) application documents to issue equity common shares and are expected to be listed and traded on the CboeBZX exchange.

2. VanEck’s interpretation of Solana

In response, Matthew Sigel, director of digital asset research at VanEck, posted an article on X explaining the application:

• Solana is an open source blockchain software designed to handle various applications , including payments, transactions, games and social interactions.
• Solana blockchain has unique advantages of high throughput, speed and low cost.
• Through advanced security mechanisms that combine Proof of History and Proof of Stake, Solana ensures robust security and accessibility.
• The Solana ecosystem supports a wide range of applications and services, highlighting the utility and value of SOL as a digital commodity.
• SOL’s decentralized nature, high utility and economic feasibility are in line with the characteristics of other established digital goods.

3. No pledge will be made

The SEC filing states that neither the Trust, the Sponsors, the SOL Custodian, nor any other person associated with the Trust will take any action, directly or indirectly, to transfer any of the Trust’s SOL is used to stake to earn rewards or perform actions that generate other benefits. Subscriptions and redemptions are currently made in cash only (i.e. no pledge will be made).

4. Bloomberg Analyst’s View

Bloomberg analyst James Seyffart believes that this ETF launch will only be possible if we have a new government and Securities and Exchange Commission in 2025, but even then, it cannot ensure.

At about the same time, Evgeny Gaevoy, founder of cryptocurrency market maker Wintermute, also believed that

The chance of SOL ETF being approved this year is almost zero (it is quite foolish to think that the Trump administration will prioritize this issue).

Once you see how much inflows the Ethereum ETF has seen this year, it becomes clear that SOL will have even less inflows.

SOL fell below US$150
Inspired by this news last night, SOL once rose 8% to exceed US$150, and fell back to US$147.79 before the deadline.

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