VanEck Files for Solana ETF! SOL Price Drops Below $120
A new development has occurred in the crypto investment world. Global asset management giant VanEck has filed an official application in Delaware for the Solana (SOL) spot ETF. This step will make it easier for institutional investors to invest in Solana via the stock exchange and could trigger a major change in the crypto market.
What Does VanEck's Solana ETF Application Mean?
VanEck continues to increase its investments in the crypto ecosystem. Finally, the company filed an exchange-traded fund (ETF) application for Solana in Delaware. Although this application is not an official file submitted to the SEC, it is considered the first step in Solana's ETF journey.
The approval of the Solana ETF will allow investors to invest in Solana via traditional stock exchanges, opening the market to a wider audience of investors. Considering the significant interest in spot ETFs approved for Bitcoin and Ethereum, a similar process is possible for Solana.
However, considering the SEC’s cautious approach to spot crypto ETFs in the past, it remains unclear whether the Solana ETF will be approved in the short term.
What Will Be the Impact on the Market if the Solana ETF is Approved?
Institutional Investor Inflow:
If the Solana ETF is approved by the SEC, large investment funds and institutional investors will be able to invest in Solana more safely. This could trigger a large capital inflow, just like the Bitcoin spot ETFs.
Positive Impact on Price:
Bitcoin and Ethereum ETF approvals have pushed prices up in the past. A similar scenario could happen for Solana, and the ETF approval could push the SOL price back up.
Regulatory Uncertainty Continues:
How the SEC will evaluate crypto assets is a critical factor. Solana is at a controversial point in terms of decentralization, which could affect the ETF process.
VanEck’s Solana ETF application is considered a significant development in the crypto market. However, it remains unclear what the SEC’s stance will be. Although the market does not seem to have priced in this news yet, the ETF approval in the future will bring new increases for Solana.
Author: Besim Şen
