๐Ÿš€VanEck, a pioneer in Bitcoin ETFs, is now eyeing Solana. They've filed for the first-ever Solana ETF in the US, aiming to leverage Solana's decentralized features, high utility, and economic feasibility.๐Ÿ”ฅ

๐Ÿค”Why Solana? VanEck sees SOL as a digital commodity, similar to Bitcoin and Ether. It's used to pay for transaction fees and computational services on the blockchain. Plus, like Ether, SOL can be traded on digital platforms or used in P2P transactions.๐Ÿ’ก

๐Ÿ“ˆThe goal? To mirror Solana's crypto price, excluding operational expenses. The trust will use the MarketVector Solana Benchmark Rate index for daily share valuation, based on prices from the top 5 SOL trading platforms.๐ŸŽฏ

๐ŸŽ‰This comes after the SEC approved spot Ether ETFs in May 2024, affirming ETH as a commodity, not a security. The SEC also halted an investigation into whether Ether is a security.๐Ÿพ

๐Ÿ‘‡What are your thoughts on this? Are you bullish on Solana? Let's chat in the comments! #DeFi #Web3 #Technology.