Solana's Code Points to a Rally to $253, But There's a Catch

Solana (SOL) is under pressure after failing to sustain above $200, with the price hovering near $188. The token is retesting the lower end of its symmetrical consolidation, with $186 support aligning with the 200-day EMA. On the upside, resistance stands between $199 and $208. Nearly $400 million in outflows have been recorded across the past three sessions, suggesting profit-taking and reduced short-term liquidity.

VanEck has filed an amended S-1 with the U.S. Securities and Exchange Commission (SEC) for its Spot Solana ETF (VSOL), marking the company's fifth amendment to improve its offering and compliance, according to Blockonomi. The amended filing reduces the management fee to 0.30% and introduces a staking strategy to generate additional returns for investors.

The Spot Solana ETF aims to track Solana's (SOL) price performance while generating additional returns through staking. VanEck plans to utilize third-party staking providers, such as SOL Strategies, to manage Solana delegation and yield generation. The staking policy includes a 5% liquidity risk buffer to ensure redemptions during volatile market conditions.

VanEck's filing also notes that liquid staking tokens (LSTs) could be incorporated into future ETFs, pending regulatory approval. This reflects the company's strategy to continue integrating staking and yield generation within SEC-compliant frameworks. VanEck previously registered the Lido Staked Ethereum Trust, demonstrating their focus on staking in digital asset funds.

The company has set a competitive 0.30% sponsor fee for the Solana ETF, covering all operating expenses. This low-cost structure positions the Solana ETF as one of the most affordable digital asset ETFs in the market. The Solana ETF is expected to compete with other offerings, including VanEck's Bitcoin ETF.

Despite the filing, the SEC has not set a specific deadline for approving or rejecting the Spot Solana ETF. Analysts, including Bloomberg's James Seyffart, highlighted that the ETF's progress is subject to the Generic Listing Standards (GLS). Ongoing government shutdowns have delayed regulatory processes, including the approval of crypto-related ETFs, making the approval timeline for VanEck's Spot Solana ETF uncertain.

Meanwhile, Solana (SOL) is under pressure after failing to sustain above $200, with the price hovering near $188. The token is retesting the lower end of its symmetrical consolidation, with $186 support aligning with the 200-day EMA. On the upside, resistance stands between $199 and $208. Nearly $400 million in outflows have been recorded across the past three sessions, suggesting profit-taking and reduced short-term liquidity, CoinMarketCap reported.