VanEck’s Spot Solana ETF (VSOL) Has Entered the DTCC List: One Step Closer to Approval

The spot Solana ETF proposed by VanEck has been registered with DTCC (Depository Trust & Clearing Corporation) under the symbol 'VSOL'. This development is considered a significant advancement towards regulatory approval.

The fact that VSOL is listed as 'active and pre-launch' on the DTCC list indicates that the fund is ready for electronic trading and settlement systems if it receives SEC approval. However, at this stage, it is not possible to create or redeem the fund. Although VanEck sees this registration as an important part of the process, it does not mean that approval is guaranteed.

What Do the SEC and Market Players Say?

Bloomberg ETF analysts James Seyffart and Eric Balchunas express that the likelihood of the SEC approving the Solana ETF is high. According to Seyffart, the SEC working on S-1 documents related to Solana staking ETFs is quite a positive signal. Still, the certainty of the approval process remains unclear.

Recently, the SEC requested issuers to update S-1 applications for Solana ETFs. Analysts interpret this situation as a constructive dialogue between the regulatory agency and fund providers.

Meanwhile, transactions conducted on Polymarket show that investors assess the probability of a Solana spot ETF being approved within 2025 at 91%. This rate reflects optimism in the market.

Institutional Interest and Competition Heats Up

In addition to VanEck, major investment firms such as Bitwise, CoinShares, and Franklin Templeton are also in the race for Solana-based ETFs. However, the SEC has postponed its decision on Franklin Templeton's ETF application.

The fact that DTCC has also listed Solana futures ETFs named SOLZ and SOLT before VSOL indicates that the institution's interest in crypto assets has increased. Additionally, DTCC is further expanding its interest in this area with plans to develop new blockchain infrastructures for stablecoins and tokenized assets.

Solana's Strong Foundations and Potential

The Solana network stands out with its high transaction capacity, active developer community, and growth in the DeFi and NFT ecosystems. All these factors make Solana an attractive option for institutional investors.

The SEC's interest in spot Solana ETFs and the listing of Solana futures on CME suggests that SOL could be the third largest crypto asset to achieve full ETF status in the US.

Price Impact and Future Expectations

Although no official start date for trading has been announced for VSOL yet, its entry into the DTCC list indicates that the process has matured. If approval comes, it may also pave the way for new ETF models such as staking-enabled products or multi-asset crypto baskets.

These developments could also affect the price of Solana. However, as of the writing, SOL is trading at $148.72 and has experienced approximately a 3% decline in the last 24 hours.

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