VanEck Aims to Launch Solana ETF with SEC Approval

VanEck has filed for the first U.S. exchange-traded fund (ETF) focused on Solana, expanding its cryptocurrency offerings. 

The new Solana ETF aims to provide investors with exposure to SOL, Solana’s native token, known for its high throughput and low transaction costs. Designed for both institutional and retail investors, the ETF leverages Solana’s proof-of-history and proof-of-stake mechanisms. The fund will track the price of SOL, reflecting its market performance minus operational expenses. 

Filed with the SEC on June 27, 2024, the VanEck Solana Trust will trade on the Cboe BZX Exchange, addressing the growing demand for secure and compliant digital asset investment products.

Clever Robot News Desk 28^th June 2024