The post VanEck submits application for Solana ETF in the United States (USA) appeared on BitcoinEthereumNews.com.

The Bitcoin ETF issuer, VanEck, has recently submitted an application for the ETF Solana in the United States (USA).  According to the head of digital asset research at VanEck, the company is the first in the United States to apply for a Solana ETF, marking an important step forward in the bull sector of bear investments in cryptocurrencies.  Let’s see all the details below.  VanEck: pioneers in ETF innovation, the demand for Solana in the USA  As anticipated, VanEck, one of the pioneers in issuing spot Bitcoin exchange-traded funds (ETF) in the United States, recently submitted an application for a new ETF on Solana. This move represents a further step forward for the company in expanding the offering of investment products in the cryptocurrency sector. Matthew Sigel, head of digital asset research at VanEck, announced on June 27 on X (formerly known as Twitter) that the company has filed with the United States Securities and Exchange Commission (SEC) the application for the Solana ETF.  The new fund, named Vaneck Solana Trust, aims to capitalize on the high utility and economic feasibility of the blockchain Solana. According to Sigel, this is the first filing for a Solana ETF in the country, highlighting VanEck’s commitment to innovation and the expansion of the ETF market linked to digital assets. Solana as a commodity: VanEck’s vision Sigel explained the reasons why VanEck considers SOL, the native token of Solana, a commodity: “We believe that the native token, SOL, functions similarly to other digital commodities like Bitcoin and Ether. It is used to pay transaction fees and computational services on the blockchain. Like ether on the Ethereum network, SOL can be traded on digital asset platforms or used in peer-to-peer transactions.” In any case, the demand for the Solana ETF by VanEck represents an important…

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Filed under: News - @ June 28, 2024 5:28 am