![13 Tips for Creating Videos for Instagram Like the Brands You Love [+ Examples]](https://www.hubspot.com/hubfs/creating%20videos%20for%20instagram%20featured.png)
SOL Jumps 6% after VanEck Files for Solana-based Fund
The post SOL Jumps 6% after VanEck Files for Solana-based Fund appeared on BitcoinEthereumNews.com. Coinspeaker SOL Jumps 6% after VanEck Files for Solana-based Fund VanEck, a leading asset management firm based in New York, revealed plans to debut an exchange-traded investment product based on the price action of the Solana (SOL) token. Notably, following the filing submitted by the ETF issuer, the price of the altcoin printed its biggest rally in the past 30 days. As per a report from Bloomberg, VanEck filed for the Solana-based investment product with the Securities and Exchange Commission (SEC) on Thursday and seeks to debut the VanEck Solana Trust. It is important to note that the new product will hold the SOL token directly, as the filing read, with VanEck being the first firm to hold an altcoin. Notably, the status of all cryptocurrencies, other than Bitcoin (BTC), as a security or a community, is unclear. The SEC has been silent on whether it officially considers Ether (ETH), the native token of the Ethereum blockchain, as a security. However, the agency might approve S-1 filings for spot ETH ETFs by July 4, as reported earlier by Coinspeaker. It seems that the industry players have become quite optimistic regarding altcoin ETFs with the approval of spot ETH ETFs. “Solana solidified its place in the ‘Big 3’ last year, not by virtue of its parabolic rise in price, but rather as the most utilized token in Web3,” said Rich Rosenblum, co-CEO of digital-asset firm GSR. Interestingly, following the success of spot Bitcoin ETFs in the United States, which have total net inflows worth $14.45 billion as of June 27 as per SoSoValue, the ETF issuers are looking for ways to provide products tied to other digital assets. On the other hand, a filing does not guarantee that the SEC would approve such a product that is tied to Solana, despite…
The post SOL Jumps 6% after VanEck Files for Solana-based Fund appeared on BitcoinEthereumNews.com.
Coinspeaker SOL Jumps 6% after VanEck Files for Solana-based Fund VanEck, a leading asset management firm based in New York, revealed plans to debut an exchange-traded investment product based on the price action of the Solana (SOL) token. Notably, following the filing submitted by the ETF issuer, the price of the altcoin printed its biggest rally in the past 30 days. As per a report from Bloomberg, VanEck filed for the Solana-based investment product with the Securities and Exchange Commission (SEC) on Thursday and seeks to debut the VanEck Solana Trust. It is important to note that the new product will hold the SOL token directly, as the filing read, with VanEck being the first firm to hold an altcoin. Notably, the status of all cryptocurrencies, other than Bitcoin (BTC), as a security or a community, is unclear. The SEC has been silent on whether it officially considers Ether (ETH), the native token of the Ethereum blockchain, as a security. However, the agency might approve S-1 filings for spot ETH ETFs by July 4, as reported earlier by Coinspeaker. It seems that the industry players have become quite optimistic regarding altcoin ETFs with the approval of spot ETH ETFs. “Solana solidified its place in the ‘Big 3’ last year, not by virtue of its parabolic rise in price, but rather as the most utilized token in Web3,” said Rich Rosenblum, co-CEO of digital-asset firm GSR. Interestingly, following the success of spot Bitcoin ETFs in the United States, which have total net inflows worth $14.45 billion as of June 27 as per SoSoValue, the ETF issuers are looking for ways to provide products tied to other digital assets. On the other hand, a filing does not guarantee that the SEC would approve such a product that is tied to Solana, despite…
What's Your Reaction?
