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U.S. asset manager VanEck filed for a Solana exchange-traded fund with the Securities and Exchange Commission (SEC) on Thursday.<\/p>\n
The spot SOL ETF application<\/a> is the first in the U.S.<\/p>\n SOL traded at US$147 at 11:00 a.m. ET, up 7%, according to CoinGecko<\/a>.<\/p>\n \u201cWe think this combination of high throughput, low fees, robust security, and a strong community vibe makes Solana an attractive option for an exchange-traded fund, offering investors exposure to a versatile and innovative open-source ecosystem,\u201d Matthew Sigel, head of digital asset research at VanEck said<\/a> on X.<\/p>\n The application comes less than a week after 3iQ filed for a similar Solana product<\/a> in neighboring Canada, and a month after the SEC approved spot Ether ETFs in the U.S.<\/p>\n Following the spot Ether ETF approvals in May, analysts at Bernstein said in a report that Solana could also be classified<\/a> as a commodity.<\/p>\n The SEC recently dropped its investigation against Ethereum 2.0, which according to Consensys, an Ethereum software firm, means the agency now views the asset as a commodity.<\/p>\n However, the SEC has not officially classified Ether as a commodity nor security yet. <\/p>\n In May, the SEC approved the 19b-4 filings for spot Ether ETFs, but the S-1 (registration statement) filings, which are necessary for the launch of these financial products, have not yet been finalized. <\/p>\n