On June 27, 2024, VanEck, a U.S. asset manager, filed for a Solana exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC).
This is the first Solana ETF registration in the U.S., coming six days after a similar product filing in Canada.
The native token, SOL, jumped by almost 8% since the filing was announced.
VanEck's head of digital asset research, Matthew Sigel, stated that SOL functions like other digital assets such as bitcoin and ether.
The SEC approved the first spot bitcoin (BTC) ETF in January, while an ether ETF appears to be on the near horizon.
Several experts have said that if an ETH ETF is approved, the next coin to be packaged into such a fund would be SOL because its similarities to the second-largest cryptocurrency classify it as a commodity.
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