The Solana exchange-traded fund (ETF), proposed by VanEck, is now available on the website of the Depository Trust & Clearing Corporation (DTCC). This development is seen as a clear sign that the U.S. Securities and Exchange Commission (SEC) may approve it soon.
The listing appears under the symbol VSOL and is part of the "active and pre-launch" funds section of the DTCC. However, the DTCC indicates that the fund cannot yet be created or redeemed, as it awaits regulatory approval.
According to the DTCC, the ETF cannot be processed until it receives approval from the SEC. However, the mere presence of VanEck's Solana ETF on the list is considered a positive indicator for its potential future approval.
The list underscores that regulatory scrutiny is ongoing, but the inclusion of the fund suggests that a decision from the SEC could be imminent.
Previously, the SEC has been conservative in approving spot cryptocurrency ETFs. While Bitcoin and Ethereum spot ETFs have received approval, other crypto assets like Solana have not. Therefore, the inclusion of VanEck's ETF on the DTCC website could represent a significant milestone in the broader acceptance of cryptocurrency ETFs in the U.S.
Inclusion on the list only implies that the fund is in the process of legislative approval. The DTCC's inability to manage the funds during this phase implies that the ETF is not yet operational, but is in the pre-launch review phase.
This inclusion is crucial, as it is usually followed by the final consent procedure. Future actions by the SEC will be decisive in determining whether Solana ETFs will become a popular investment product.
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