VanEck has launched the US’s third exchange-traded fund (ETF) that includes Solana staking, as extra altcoin-tied funds are set to enter the market quickly.
The VanEck Solana ETF (VSOL) launched on Monday, becoming a member of comparable funds from Bitwise and Grayscale that debuted late in October and have collectively seen over $380 million in inflows.
Like Bitwise and Grayscale’s ETFs, VSOL provides staking yields, the place Solana (SOL) is locked up on the blockchain to earn rewards. It has additionally waived its 0.3% charge till Feb. 17 or till it reaches $1 billion in property in a bid to compete.
Asset managers have been flooding the market with crypto ETFs after the Securities and Change Fee changed its listing standards in September, permitting for sooner approvals that don’t require an evaluation of every fund.
Bloomberg ETF analyst Eric Balchunas said on Monday that the Constancy Solana ETF (FSOL) is ready to launch on Tuesday, competing with three current comparable funds that cost a 0.25% charge.
“Simply the largest asset supervisor on this class with BlackRock sitting out,” he added.
Dogecoin ETF might launch as quickly as Monday
Balchunas stated he expects a Dogecoin (DOGE) ETF from Grayscale to launch on Nov. 24, based mostly on an amended regulatory submitting earlier this month kicking off a 20-day interval the place it could actually launch if the SEC doesn’t reply.
The Grayscale Dogecoin Belief (DOGE) is a conversion from its current fund and would commerce on the New York Inventory Change, which should nonetheless file to checklist the ETF.
“We’ll see, gained’t be 100% until alternate discover, however based mostly on SEC steering, it seems to be good,” Balchunas added.
Associated: XRP traders hope fresh wave of ETF launches will restore the bull trend
If Grayscale’s fund launches subsequent week, it’ll be the primary Dogecoin ETF within the US that can have the ability to straight maintain the memecoin.
Asset issuers REX Shares and Osprey Funds collectively launched a DOGE ETF in mid-September, registered beneath the Funding Firm Act of 1940, which limits its funding to an entirely owned offshore subsidiary that holds the cryptocurrency.
Bitwise might additionally see its spot Dogecoin ETF launch late subsequent week, after a change in its regulatory submitting for the product on Nov. 6 triggered a 20-day launch timer, until the SEC intervenes.
Journal: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise — Hunter Horsley
