Fund manager VanEck has filed for a Solana ETF in the U.S. that would track the price of SOL. Matthew Sigel, head of digital asset research at VanEck, said on the X platform on Thursday (27th):
"I'm pleased to announce that VanEck has just filed for the first Solana exchange-traded fund (ETF) in the United States."
Source: Matthew Sigel
According to VanEck's S-1 registration statement, the "VanEck Solana Trust" (VanEck Solana Trust) plans to be listed on the Cboe BZX Exchange, a securities exchange of the Chicago Board Options Exchange (CBOE). The fund will hold Solana's native token SOL, " and its shares will be valued daily based on the reported MarketVectorTM Solana benchmark rate."
In a tweet, Sigel claimed that SOL is a commodity because of its “functional similarities” to Bitcoin (BTC) and Ethereum (ETH). However, the U.S. Securities and Exchange Commission (SEC) stated that SOL is a security when it filed charges against cryptocurrency exchange Binance last year, regarding whether certain cryptocurrencies are securities under the jurisdiction of the SEC or the Commodity Futures Trading Commission (CFTC) The problem with the merchandise still exists.
Sigel also said Thursday:
“SOL’s decentralized nature, high utility, and economic feasibility are consistent with the characteristics of other mature digital commodities, which strengthens our belief that SOL may be a valuable commodity that can be used to find duopoly applications. App store alternative provides application scenarios for investors, builders and entrepreneurs.
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This article VanEck files for Solana ETF in the US, says SOL is a commodity first appeared on Zombit.