jakiro
Author: Oliver Knights, Helene Braun, Coindesk; Compilation: White Water, Bit Chain Vision Realm
Asset management company VANECK applied for sale of the Solana (SOL) exchange trading fund (ETF), which is the first time in the United States such registration and six days after 3IQ applied for similar products in Canada.
The S-1 registration form submitted to the US Securities and Exchange Commission (SEC) helped increase the 24-hour increase of the SOL token to nearly 8%.The COINDESK 20 Index (CD20) of the more extensive encryption market rose by 1.8%.
As we all know, VANECK is a pioneer in the field.The asset management company is the first company to apply for the Eto ETF spot in 2021. About three years ago, the US Securities and Exchange Commission (SEC) began to contact the issuer, including BlackRock, richCompanies such as Fidelity, ARK Invest.A document was submitted in September last year.
Matthew Sigel, director of VANECK’s digital asset research, wrote in an article on X:“We believe that the function of native currency SOL is similar to other digital products such as Bitcoin and ETH.” He believes that SOL is a product, not a securities.”It is used to pay the transaction fee and calculation service on the blockchain,” he wrote.
Sigel added that VANECK applied for Solana ETF because the blockchain is Ethereum’s competitors and has “unique combinations of scalability, speed and low cost.
The US Securities and Exchange Commission (SEC) approved the first spot Bitcoin (BTC) ETF in January, and Ethereum ETF seemed to be launched soon.Analysts predict that ETH ETF will attract a net inflow of $ 5 billion in the first five months.
Several experts said that if ETH ETF is approved, the next tokens packaged into such funds will be SOL because it is classified as the second largest cryptocurrency as a commodity.However, they said,It will not begin until 2025.Geoffrey Kendric, a Standard Chartered Bank, believes that Ripple’s XRP is a possible choice.
Bloomberg Intelligence ETF Analyst James Seyffart wrote in an article on X: “((I) preliminary idea is that if the White House and the US Securities and Exchange Commission (SEC) have a new government with a new governmentIt is only possible to be launched at some time in 2025. “” Even so, it cannot be guaranteed. “
