VanEck Makes Bold Move: Files SEC Form 8-A for Solana Spot ETF – A Game Changer?
Wall Street's latest crypto gambit just got hotter. VanEck—no stranger to riding the digital asset wave—has officially filed an 8-A form with the SEC for its Solana spot ETF. Cue the speculation: Is this the next Bitcoin ETF gold rush, or just another tickbox for institutional FOMO?
Why Solana? Speed, scalability, and a cult-like dev community. But let’s be real—Wall Street loves a narrative almost as much as it loves fees. With SOL’s price action looking like a rollercoaster designed by a caffeinated algo trader, VanEck’s timing is either genius or gloriously reckless.
The SEC’s inbox must be drowning in crypto paperwork. After the Bitcoin ETF circus, regulators might need a stronger coffee—or a stiff drink—before tackling Solana’s ‘proof-of-history’ vs. the old-school ‘proof-of-work’ debate. Meanwhile, traders are already front-running the news, because why wait for approval when you can YOLO on futures?
Final thought: If this gets greenlit, prepare for the usual suspects—volatility, hype cycles, and at least one CNBC host calling it ‘the future of finance.’ If it doesn’t? Well, there’s always the next shiny blockchain to repackage into an ETF. Such is the crypto-industrial complex.
Solana ETF still mark inflows
As of November 2025, four ETFs are active, and another 10 await approval. The ETFs have retained their inflows for 12 consecutive days, unaffected by the outflows from BTC and ETH. They have not yet market a day of outflows since the initial launch, as SOL sees one of its first rounds of accumulation.
Solana ETF attracted $369M in total inflows, with $18.1M for the past day. ETF valuations are still down, reflecting the SOL downturn over the past months.
Grayscale’s GSOL ETP also saw highly active trading, though the price lost around 30% in the past month.
ETF adds to SOL accumulation
The expansion of ETFs may boost the status of SOL as a reserve asset. SOL has a full ecosystem of staking for passive income and liquid staking tokens, expecting an accumulation similar to that of ETH.
The recent inflows are seen as institutional buying of SOL, the chain’s first exposure to direct inflows of traditional capital. The Solana ETF buying may be one of the few sources of new liquidity in the crypto space for the past months.
The recent ETF buying reflected the initial hype, but also continued as Wall Street investors bought the dip. The current price drop, from $190 to the $140 range, may test the readiness of ETF investors to build up reserves, as the coming days will show if ETF traders are panicking.
Currently, over 24M SOL are held by the combined reserves of treasury companies and ETFs. ETF may yet become net sellers, but overall, SOL holders try to tap the passive yield of up to 7.7%
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