VanEck filed for ETF #Solana spot

According to the announcement on the evening of June 27, American investment asset management company VanEck has applied to the US Securities Commission (SEC) with the desire to create an ETF product for Solana (SOL).

Notably, this ETF will be in the spot form, directly buying and holding SOL to guarantee the amount of shares issued to investors, instead of only being exposed through futures contracts like ETF futures.

This product will be listed on the Cboe BZX stock exchange, but the legal status is still unclear because Solana (SOL) was previously accused of being a security in the SEC's lawsuit against Coinbase and Binance.

However, the representative of Cboe personally said that the prospect of the Solana spot ETF appearing in the US at the present time is not high, because this currency still does not have an ETF futures product. Both BTC and ETH need futures ETF approval before they can move forward to become spot ETFs.

The price of $SOL is increasing nearly 7% in the past hour after news that VanEck applied to the SEC to establish a Solana spot ETF.

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