In accordance with VanEck’s head of digital asset analysis, they’re the primary U.S. firm to use for a Solana ETF. VanEck, an early issuer of Bitcoin spot ETFs within the U.S., has filed for a brand new SOL ETF.
Matthew Sigel, head of digital asset analysis at VanEck, introduced on X that they submitted a Solana ETF software to the U.S. Securities and Change Fee (SEC) on June 27.
Sigel mentioned why VanEck considers SOL a commodity. He defined that the native token, SOL, operates equally to different digital commodities like Bitcoin and ETH. SOL is used to pay transaction charges and computational providers on the blockchain. Like ether on the Ethereum community, SOL might be traded on digital asset platforms or utilized in peer-to-peer transactions.
Michael went on to say that the “Solana blockchain’s distinctive mixture of scalability, pace, and low prices could provide a greater person expertise for a lot of use instances.”
“By enabling hundreds of transactions per second with minimal charges and using a complicated safety mechanism that mixes proof-of-history and proof-of-stake, we imagine Solana stands out as a robust and accessible blockchain software program.”
SOL rose 6.9% shortly after the announcement of the Solana ETF and continues its upward trajectory. VanEck sees nice potential in Solana’s potential to deal with hundreds of transactions per second with minimal charges. Mixed with the blockchain’s superior safety, which is each proof-of-history and proof-of-stake, makes Solana a sturdy and accessible blockchain.