In keeping 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 utility to the U.S. Securities and Trade 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 companies on the blockchain. Like ether on the Ethereum community, SOL could 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, velocity, and low prices could supply a greater consumer expertise for a lot of use circumstances.”
“By enabling 1000’s of transactions per second with minimal charges and using a sophisticated safety mechanism that mixes proof-of-history and proof-of-stake, we consider 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 means to deal with 1000’s 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.
