VanEck submits Solana ETF application
The move pushed the SOL token up nearly 8% in 24 hours, while the CoinDesk 20 Index (CD20) also rose 1.8%
A brief introduction to VanEck
VanEck's history and influence
VanEck is a pioneer in this field. As early as 2021, the company took the lead in applying for a spot Ethereum (ETH) ETF, ahead of the time when the U.S. Securities and Exchange Commission (SEC) began to contact issuers such as BlackRock, Fidelity, and Ark Invest. In September last year, the company submitted another application.
Matthew Sigel, head of digital asset research at VanEck, said that they believe that the SOL token functions similarly to digital commodities such as Bitcoin (BTC) and Ethereum (ETH), and believes that SOL should be considered a commodity rather than a security. The Solana blockchain is considered a competitor to Ethereum for its unique combination of scalability, speed, and low cost
