VanEck has moved a step closer to launching its long-anticipated spot Solana exchange-traded fund in the United States, signalling that the product could hit the market very soon. The investment firm filed its Form 8-A with the U.S. Securities and Exchange Commission this week, a document typically submitted in the final phase before an ETF begins trading on a national exchange. While the SEC has not yet issued formal approval, such filings often indicate that a listing may follow within days, or even at the next market open if regulatory clearance arrives in time.
The Form 8-A submission effectively registers the ETF’s shares for trading on platforms such as Nasdaq or the New York Stock Exchange. It also underscores VanEck’s intention to deepen its presence in the fast-growing crypto ETF landscape, particularly as investor interest in Solana-based products continues to climb. Last month, the firm updated its S-1 registration statement, revealing a planned management fee of 0.30 per cent and confirming a staking component through a partner firm, SOL Strategies, which aims to generate additional yield for fund holders. If approved, it would be one of the first U.S. ETFs to incorporate a formal staking model.
Institutional appetite for Solana appears undeterred by fluctuations in the broader crypto market. Data from SoSoValue shows that U.S. spot Solana ETFs recorded their thirteenth straight day of inflows on Thursday, adding roughly $1.5 million. Bitwise’s BSOL product led the day’s activity, while Grayscale’s Solana fund recorded no new inflows. Since BSOL debuted on October 28, the two active Solana ETFs have accumulated about $370 million in net inflows, with nearly half of that arriving in their first week on the market. The consistent capital movement suggests that institutional traders are increasingly viewing Solana as a core digital asset alongside Bitcoin and Ethereum.
However, the token’s market price has softened. Solana was trading near $142 at press time, down roughly nine per cent on the day amid cooling sentiment across the crypto sector. Despite the pullback, SOL still maintains a strong position, with a market capitalisation hovering around $79 billion. Even with short-term volatility, institutional participation continues to expand. Grayscale recently rolled out options trading for its Solana Trust ETF, allowing more sophisticated traders to deploy hedging and yield strategies around the asset.
VanEck’s advance comes during a busy period for crypto ETFs more broadly. Swiss asset manager 21Shares introduced several new U.S. products this week under the Investment Company Act of 1940, offering diversified exposure to a range of digital assets, including Solana, Ethereum, and Dogecoin. Meanwhile, Canary Capital has filed to launch a spot MOG Coin ETF, signalling growing interest in packaging emerging memecoins into regulated investment vehicles.
With multiple filings, steady inflows, and expanded trading instruments, the Solana ETF ecosystem is gaining momentum. VanEck’s latest move positions its fund on the cusp of launch, potentially marking one of the most significant additions to the U.S. crypto ETF lineup this year.
