Solana Poised for Third U.S. ETF as VanEck Takes Final Regulatory Step
Solana is moving closer to another defining moment in its institutional journey, as VanEck prepares to introduce a new spot ETF that could begin trading within days.
Key Takeaways
- VanEck moves closer to launching a U.S. Solana ETF.
- Existing SOL ETFs continue attracting steady inflows.
- Institutional interest in Solana investment products is expanding.
- SOL price lags despite ETF momentum.
A regulatory filing landed this week that usually appears only when an ETF is on the brink of going live. Rather than another amendment or request for comments, VanEck submitted a Form 8-A — a document that typically signals that the fund is ready for listing rather than still seeking approval. In previous ETF launches across the crypto sector, this filing has historically been followed by trading activity almost immediately.
Market watchers now believe the product could begin trading as soon as the next market session once the green light is given. If so, Solana would join bitcoin and ether in the small group of digital assets with an active U.S. spot ETF — a milestone few expected earlier this year.
Institutional Appetite Has Not Waited for the Launch
If enthusiasm was expected to cool after months of ETF headlines, Solana didn’t get that memo. Two spot funds backed by the asset — including Bitwise’s BSOL — have continued attracting capital deep into the fourth quarter. Inflows have now stretched to 13 consecutive days, bringing cumulative net investment across the Solana ETF category to around $370 million.
The first week after BSOL began trading accounted for nearly half of that amount, and although more recent days have seen smaller inflow totals, analysts say the consistency is more significant than the size. Research desks describe Solana ETFs as a higher-risk, higher-reward way for institutions to complement their bitcoin and ether exposure without venturing into speculative altcoins.
More Sophisticated Trading Begins to Arrive
Beyond VanEck’s pending launch, Solana investment vehicles are evolving in other ways. Grayscale has now introduced options trading for its GSOL ETF, widening the toolkit for hedge funds and institutional desks that rely on complex strategies such as hedging, volatility plays and long-vol carry.
ETF Momentum vs. Spot Price Pressure
Ironically, demand for Solana ETFs has surged at the same time the token itself has retreated in price. SOL recently dropped to roughly $143, leaving it down about 6% on the day, even though the network still commands a market capitalization close to $79 billion.
Analysts say the disconnect does not reduce the importance of ETF progress — but it does highlight how institutional demand doesn’t always translate to instant spot appreciation, especially during broader market pullbacks.
What Comes Next
If VanEck’s fund goes live in the coming days, it will expand the Solana ETF lineup beyond Bitwise and Grayscale for the first time. The industry will also watch to see whether SOL’s price eventually responds to the rapidly rising levels of institutional exposure, or whether the momentum remains contained to investment products for now.
For now, one fact is difficult to ignore: Solana’s ETF ecosystem is growing faster than almost anyone expected in 2024 — and Wall Street clearly isn’t done with it yet.
The information provided in this article is for educational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
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