VanEck’s Solana ETF Nears Reality: Form 8-A Filing Signals Imminent U.S. Launch
Wall Street's crypto-crawl inches forward as VanEck drops regulatory paperwork for a Solana ETF—just in time for the next bull run.
Behind the paperwork: The Form 8-A filing is the bureaucratic equivalent of stretching before a sprint. No guarantees, but the starting blocks are set.
Why Solana? The 'Ethereum killer' keeps dodging network outages long enough to seduce institutional money. This ETF would let Wall Street bet on SOL without touching the blockchain—or admitting they still don't understand it.
The cynical take: Another crypto ETF means another 2% management fee for bankers to babysit an asset that literally runs itself.
Strong institutional demand fuels Solana ETFs
Investor appetite for Solana remains strong despite broader market volatility. According to SoSoValue data, U.S.-listed spot Solana ETFs recorded their 13th consecutive day of inflows on Thursday, bringing in roughly $1.49 million. Bitwise’s BSOL fund led the day, while Grayscale’s product saw no inflows.
Since BSOL launched on October 28, the two active Solana ETFs have attracted approximately $370 million in combined net inflows. Nearly $200 million entered during the first week of trading alone.
Cooling market sentiment hits Solana price
At the same time, Solana’s market performance has cooled. At press time, SOL was trading NEAR $141.76, down about 9.53% on the day, though it still maintains a market capitalization of roughly $79 billion.
Grayscale also expanded institutional access this week by launching options trading for its Solana Trust ETF (GSOL), offering new strategies for advanced traders.
Crypto ETF activity expands across markets
VanEck’s MOVE comes amid a broader surge in crypto ETF activity late into the fourth quarter. This week, Swiss asset manager 21Shares launched its first U.S. ETFs under the Investment Company Act of 1940, offering diversified exposure to Ethereum, Solana, Dogecoin, and other digital assets through a regulated structure built with Teucrium Trading.
In the meantime, Canary Capital has registered an S-1 filing of a spot MOG Coin ETF, which seeks to introduce one of the fastest-growing memecoins to mainstream financial products.
The Solana ETF market seems to be at a turning point with several filings, increasing inflows, and growing institutional instruments. With its latest filing, VanEck now positions its Solana fund on the verge of launch, which could be among the biggest additions to the U.S. crypto ETF market this year.
Also Read: Canary Capital Launches XRPC, the First U.S. Spot XRP ETF
