The cryptocurrency market is entering an exciting moment. The globally renowned asset management company VanEck is set to launch a Solana (SOL) exchange-traded fund (ETF) on the Depository Trust & Clearing Corporation (DTCC) in the United States, with the stock code VSOL. This milestone progress marks a solid step forward for Solana on its path toward mainstream investment, indicating that the integration of crypto assets with traditional financial markets is accelerating.
- DTCC Listing: A Signal for VSOL's Move to the Mainstream
According to DTCC records, VanEck's Solana ETF is labeled as "VANECK SOLANA TR COM SHS BEN INT" and classified under the "D" settlement category. This indicates that once regulatory and exchange approvals are obtained, the fund will be eligible for electronic trading and clearing. As a core component of the U.S. financial market infrastructure, its listing means that VSOL is technically prepared for potential formal trading in the future, significantly enhancing its visibility and operability within the traditional financial system.
Solana, designed as a high-speed blockchain network for scalable decentralized applications, is increasingly becoming a strong alternative to Ethereum due to its lower transaction costs and evolving developer ecosystem. VanEck, as a pioneer in crypto investment products, reflects the company's broader strategy to expand investor access to emerging layer-one blockchain networks through regulated tools.
Currently, VanEck has not announced the official launch date for VSOL trading.
- SEC Review Accelerates: Solana ETF Expected to be Approved in July?
Although the spot Solana ETF has not yet been approved for trading in the U.S., recent positive movements from the Securities and Exchange Commission (SEC) have brought optimistic expectations for the approval of the Solana ETF. Just days before VSOL's listing on DTCC, the SEC requested Solana ETF applicants to submit amended S-1 registration statements and indicated plans to respond in about 30 days.
Bloomberg analysts believe that if the amended documents can be processed quickly, the approval window could be three to five weeks, potentially laying the groundwork for a July launch. Predictions from Polymarket also show a 76% likelihood that regulators will approve the S-1 application before July 31, reflecting growing investor confidence in the sector. Currently, five asset management companies, including Fidelity Investments, Franklin Templeton, 21Shares, Canopy Capital, and Bitwise, have submitted S-1 documents to the SEC, awaiting regulatory responses.
- SEC's Public Review of XRP and Solana ETFs: A Shift in Regulatory Attitude
Notably, the SEC has initiated a public review of Franklin Templeton's XRP and Solana ETFs, which may be listed on the Chicago Board Options Exchange. In a separate filing, the SEC announced that it is starting procedures that could allow U.S. exchanges to list and trade shares of the Franklin Solana ETF and Franklin XRP ETF.
Although the SEC stated in the filing that "the Commission has not reached any conclusions on any of the issues involved" and invited public feedback on the proposed rule changes, this move undoubtedly extends the review period for Franklin Templeton's ETFs to July and sends a positive signal. This indicates that after approving the Bitcoin spot ETF, the SEC is gradually turning its attention to other mainstream crypto assets, especially after the appointment of SEC Chairman Paul Atkins by the Trump administration, which has significantly changed the SEC's regulatory approach to digital assets, pausing several enforcement actions against cryptocurrency companies.
- Competition in the Crypto Industry: Who Will Be the Next Spot ETF Winner?
Currently, several companies in the crypto industry are fiercely competing to become the first to obtain approval for spot ETFs for tokens like XRP. In addition to VanEck and Franklin Templeton, many asset management companies, including Bitwise, ProShares, and 21Shares, have also submitted applications to the SEC for listing and trading investment tools that provide exposure to SOL or XRP.
As leaders in the SEC's pending ETF product applications, Solana and XRP's future development is highly anticipated. If the Solana ETF can be successfully approved, it will provide more institutional investors and traditional financial participants with convenient and compliant investment channels, further promoting the development and growth of the Solana ecosystem.
Conclusion:
The listing of the VanEck Solana ETF on DTCC, along with the SEC's active review of the Solana and XRP ETFs, paints a clear path for crypto assets to move into the mainstream financial market. Although we still need to wait for the SEC's final approval and formal listing, these developments undoubtedly inject strong confidence into Solana and the entire crypto industry. As the regulatory environment gradually clarifies, we have reason to believe that the institutionalization process of crypto assets will accelerate, bringing more diversified investment options to global investors.
Related: The U.S. Securities and Exchange Commission (SEC) Seeks Comments on Franklin Templeton's XRP and Solana ETF Proposals
Original article: “VanEck Solana ETF to List on DTCC: A Key Step for SOL Toward Mainstream Investment”
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