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VanEck has submitted Form 8-A to the U.S. Securities and Exchange Commission (SEC), announcing the imminent launch of its exchange-traded fund "Solana" (SOLANA) for spot trading.
The fund will feature a competitive management fee of 0.30%, along with the possibility of staking through SOL Strategies.
VanEck is making significant progress with its exchange-traded fund "Solana", paving the way for the submission of Form 8-A to the U.S. Securities and Exchange Commission. This filing is the last regulatory step before actual trading begins, and thus, the product is expected to be launched for trading shortly. This decision aligns with investors' ongoing interest in investment vehicles focused on "Solana", resulting in strong market demand.
The final deposit indicates the imminent start of trading.
The submission of the 8-A model by the asset management company is the next immediate step to start trading ETF activities on exchanges. Market watchers expect that the VanEck Solana fund will be able to issue new shares to the public today as soon as regulatory approval is obtained. This deposit is a clear indication of VanEck's intention to make Solana available to institutional and individual investors in the United States in an organized manner.
Last month, VanEck decided to make a significant change to its S-1 filing and refiled it, revealing a competitive annual management fee of 0.30% for investors. The company explained its approach to custody, confirming that it would work with SOL Strategies to implement the custody process while achieving more returns at the same time. In this way, the fund becomes different from traditional cryptocurrency exchange-traded funds as it is likely to offer some return as a result of network participation.
Current Solana ETFs are experiencing notable growth, with spot products seeing capital flows for the thirteenth consecutive day on Thursday. Information indicates that these funds received approximately $1.49 million, bringing the total net inflows to $370 million since Bitwise launched its BSOL fund. The Bitwise product attracted most of the flows on Thursday, while Grayscale did not see any new capital influx into its fund during the session.
Nick Rock, an analyst at LVRG Research, stated that the reaction to Solana ETFs has exceeded expectations ahead of their launch, describing them as alternatives with a high beta coefficient. He argued that through these products, institutions can gain precise exposure to the ecosystem, with potentially better returns than Bitcoin and Ethereum funds.
While the performance of exchange-traded funds has been good, the native Solana token fell by 6% to around $143, although it still retains a significant valuation of $79 billion. To attract more participants in the institutional market, Grayscale recently launched options trading for its Solana Trust fund, allowing for more sophisticated trading strategies.$GM
