VanEck files Solana ETF, SOL price jumps by more than 6%

Asset manager VanEck has filed an S-1 registration form for a Solana (SOL) exchange-traded fund (ETF) with the Securities and Exchange Commission (SEC) on June 27, 2024.

This has prompted SOL 24 hours price jumps by more than 6%.

It marks the first ETF registration for Solana in the U.S. The filing comes months after the approval of spot bitcoin ETFs, which paved the way for fund managers to mull providing similar investment vehicles tied to other cryptocurrencies.

The SEC is also expected to approve ether ETFs as soon as next week. VanEck did not disclose the fees it would charge for the fund.