VanEck Filed for Spot SOL ETF with the US SEC, technical indicators suggest that SOL could now be setting up for a major breakout of $200

On 27 June 2024, VanEck announced the first application for a Solana spot ETF in the United States, stating that Solana offers a better user

VanEck filed an application with the U.S. Securities and Exchange Commission (SEC) on Thursday to launch a spot Solana (CRYPTO: SOL) exchange-traded fund.

What Happened: VanEck Vectors Solana Spot ET (NYSE: VSol) will track the performance of SOL to the Trust's net asset value, less a Trust's expenses and liabilities. The Trust will invest substantially all of its assets in SOL.

The Trust's SOL will not be used for staking, earning additional SOL, or generating any income.

The Trust will, however, pay a pro-rata portion of any realized gains on the Trust's SOL to the Trust's Unitholders.

Solana Price Action: SOL at the time of writing was trading at $147.5, up 9.12% over 24 hours.

Now Read: VanEck Files For Spot SOL ETF With The US SEC, Could Signal Major Breakout For Token

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