Asset management company VanEck announced it has filed for the first US exchange-traded fund (ETF) based on Solana (SOL) 📈. VanEck Solana Trust is planned to be listed on the Cboe BZX exchange, and its assets will primarily consist of SOL tokens.

The development follows recent SEC approvals for Bitcoin and Ethereum ETFs. However, Bloomberg analyst James Seyffart notes that the real launch of such applications is possible by around 2025, and there are still uncertainties 🤔.

VanEck considers Solana an attractive ETF candidate because it enables thousands of transactions per second with minimal fees. Additionally, VanEck views Solana's native token SOL as similar to other digital goods such as Bitcoin and Ethereum.