Fund management company VanEck has applied for a Solana ETF that tracks the price of SOL in the United States. Matthew Sigel, Head of Asset Research at VanE, expressed on X platform on Thursday (27th) according to VanEck’s S-1 registration statement, the “VanEck Sol Trust” plans to list the Cboe BZX Exchange under the Chicago Board Exchange (CBOE). The fund will hold native Solana tokens SOL and “value shares daily based on the reported MarketVectorTM Solana benchmark rate”. Sigel claimed a tweet that SOL is a commodity because it has “similar functionality” to Bitcoin (BTC) and Ether (). However, when the U.S. Securities and Exchange Commission (SEC) filed charges against exchange Binance last year, they stated that SOL is a security. The question of certain cryptocurrencies fall under SEC jurisdiction as securities or are commodities under the Commodity Futures Trading Commission (CFTC) still remains. Sigel also that after VanEck announced application for a U.S. Solana ETF, SOL’s price rose nearly 8% within two hours. As of deadline, SOL was trading at around $.8.
Source: Matthew Sigel
