VanEck Solana ETF (VSOL) officially appears on the DTCC list.
Source: DTCC ETF List, active and expected to launch.
Following the breakthrough, VanEck's blockchain ETF for Solana (VSOL) has just been added to the list of the Depository Trust & Clearing Corporation (DTCC) in the 'pending approval and expected launch' category.
Although it cannot yet be issued or redeemed, this opens up opportunities for electronic trading and confirmation of the liquidation process, pending final approval from the U.S. Securities and Exchange Commission (SEC).
The market predicts a high likelihood of approval for the Solana ETF.
Source: Polymarket
In addition to the SEC approving Bitcoin and Ethereum-based ETFs, the market is starting to lean towards the possibility that the cryptocurrency Solana will be the next candidate, thanks to strong development activity, fast transaction processing speeds, and an expanding DeFi ecosystem.
This consensus has significantly boosted confidence: according to Polymarket, up to 91% of traders predict that the SOL ETF will be approved in 2025, an increase of 17% in just the past few days.
Experts predict the likelihood of ETF approval next month.
Trade expectations for the Solana ETF are increasing. Bloomberg analysts state that the SEC's evaluation will become clearer in the upcoming month, although it still depends on the final administrative goals in October.
Scalability of the Solana ETF project.
In addition to support from the market, Solana stands out due to vibrant developer activity, superior transaction validation speeds, and a positively developing DeFi ecosystem. Furthermore, CME's gradual approval of futures contracts lays the groundwork for SOL's popularity in the mainstream market.
Challenges still linger for SOL despite positive signals.
While the ETF's upward momentum brings long-term hopes, the price of SOL remains under downward pressure. At the time of writing, SOL is trading around $147.26, down 0.24% on the day.
The RSI index near 42 indicates weak market strength, close to the oversold zone. Meanwhile, the MACD gives a precise bearish signal, describing the selling pressure that is still evident, with the signal line above the MACD line.
Source: TradingView
In the short term, although positive ETF news may provide long-term support, for the SOL price to truly recover strongly, the overall market buying demand needs to return significantly, avoiding oversold areas or short-term downturns.
Source: https://tintucbitcoin.com/etf-solana-tang-manh-co-nen-mua-vao/
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