Fund manager VanEck filed for an ETF that would track the price of Solana, according to a filing released on Thursday.
"I am excited to announce that VanEck just filed for the FIRST Solana exchange-traded fund in the US," said Matthew Sigel, head of digital assets research at VanEck said in a post on X on Thursday.
The VanEck Solana Trust would list on the Cboe BZX Exchange, Inc. and would "hold SOL and will value its Shares daily based on the reported MarketVectorTM Solana Benchmark Rate," according to the firm's S-1 registration statement.
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