VanEck Registers Solana ETF with DTCC for Institutional Access
- VanEck’s Solana ETF registered with DTCC.
- Signals potential institutional investments.
- Firms see increased interest in Solana.
The registration of VanEck’s Solana ETF could shift the market towards institutional interest in Solana, potentially resulting in new capital inflows and altering the competitive landscape.
VanEck has taken a significant step by registering its spot Solana ETF with the DTCC. This move is seen as pivotal for enabling institutional access to Solana via tradable, regulated products. The listing, while it does not allow creation or redemption yet, indicates eligibility for electronic trading and clearing post SEC approval. Matthew Sigel, Head of Digital Assets Research at VanEck, is leading this initiative.
“The VSOL ETF is now officially listed as ‘active and pre-launch’ on the DTCC, awaiting regulatory clearance for open trading and settlement.” – Matthew Sigel, Head of Digital Assets Research, VanEck
The potential market impact is substantial, particularly for Solana, also known as SOL. The registration could attract significant institutional capital into SOL through a regulated ETF, potentially increasing its market valuation. VanEck’s projections suggest ambitious price targets, signifying potential robust growth in the asset’s institutional adoption.
On-chain data aligns with this promising outlook; Solana has shown increased developer activity and active users, consistent with heightened market interest. These elements suggest potential upward trends in market demand and institutional participation, which might bolster the network’s growth prospects profoundly.
