SOL's market value is only one-sixth of ETH's
Lower market value, greater expectations
The first soletf application today pulled a wave
There will definitely be hype later.
If the ETH ETF is approved at the beginning of next month, the next one to be speculated will be SOL. Spot stocks can be purchased
I’m excited to announce that VanEck has just filed for the first Solana exchange-traded fund (ETF) in the U.S. Here are some thoughts on why we think SOL is a commodity. Why did we file for this? As a competitor to Ethereum, Solana is an open-source blockchain software designed to handle a variety of applications, including payments, transactions, games, and social interactions. The Solana blockchain operates as a single global state machine without the need for sharding or layer 2, and its unique combination of scalability, speed, and low cost provides a better user experience for many use cases. By enabling thousands of transactions per second with minimal fees and using advanced security mechanisms combining Proof of History and Proof of Stake, we believe Solana is a powerful and accessible blockchain software. We believe that the combination of high throughput, low fees, strong security, and a strong community atmosphere make Solana an attractive option for an ETF, providing investors with a versatile and innovative open-source ecosystem. Why do we think SOL is a commodity like Bitcoin, Ethereum, etc.? We believe the native token, SOL, functions similarly to other digital commodities such as#bitcoinand #ETH. It is used to pay for transaction fees and computational services on the blockchain. Like Ether on the Ethereum network, SOL can be traded on digital asset platforms or used for peer-to-peer transactions. The Solana ecosystem supports a wide range of applications and services, from decentralized finance (DeFi) to non-fungible tokens (NFTs), highlighting the utility and value of SOL as a digital commodity. No single intermediary or entity operates or controls the Solana network, a principle known as decentralization. The transaction validation and record-keeping infrastructure is maintained by a diverse user base comprised of numerous independent validators distributed around the world. These validators are responsible for processing transactions and securing the network, ensuring that no single entity can monopolize the system. SOL’s decentralized nature, high utility, and economic viability are consistent with the characteristics of other established digital commodities, further validating our belief that SOL could be a valuable commodity for investors, builders, and entrepreneurs seeking an alternative to the duopoly app stores.
