After Bitcoin and Ethereum spot ETFs were approved by regulators, Wall Street began to shift its focus to other cryptocurrencies.

Recently, asset management giant VanEck submitted an application for Solana ETF (VanEck Solana Trust) to the China Securities Regulatory Commission (SEC). The fund plans to issue common shares and be listed on the Cboe BZX exchange for trading. The specific listing time is subject to the issuance notice. Shortly afterwards, 21Shares also submitted the S-1 document for Solana ETF.

Regarding why to apply for Solana ETF, Matthew Sigel said that as a competitor of Ethereum, "We believe that the combination of high throughput, low fees, robust security and a strong community atmosphere makes Solana an attractive exchange-traded fund option, providing investors with the opportunity to access a versatile and innovative open source ecosystem."

On the downside, it should be noted that despite the SEC's repeated claims in court that the asset should be classified as a security, VanEck still regards the SOL token as a clear commodity.

But from various narrative aspects, SOL's popularity in July will not change.

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