Solana News Today: Institutions Amass 12% Solana Supply as ETF Race Intensifies

VanEck's Solana Spot ETF Nears Launch as SEC Clears Final Hurdle, Spurring Institutional Demand

VanEck Digital Assets, LLC has taken a decisive step toward launching the first U.S. spot exchange-traded fund (ETF) for Solana (SOL), filing a Form 8-A with the Securities and Exchange Commission (SEC) on November 13, 2025. This regulatory filing, typically a precursor to trading commencement, signals that the ETF-set-to-trade-under-the-ticker-VSOL-on-the-Nasdaq-could-begin-operations-imminently. The move follows VanEck's amended S-1 registration in October and aligns with industry norms where such filings are often followed by listings within days.

The ETF will directly hold SOL tokens and track pricing via the MarketVector Solana Benchmark Rate, derived from major trading platforms according to market data. It will not employ leverage or derivatives but may stake a portion of its holdings, pending regulatory and tax guidance as per current analysis. This structure mirrors broader trends in crypto ETF innovation, extending institutional-grade exposure beyond Bitcoin and Ethereum to high-performance blockchains like Solana.

Institutional interest in Solana has surged despite broader market volatility, with ETF inflows reaching $370 million over 13 consecutive days as of late October 2025. Four Solana ETFs are already active, while ten more, including VanEck's, await approval according to industry reports. Combined reserves held by ETFs and treasury management firms now exceed 24 million SOL tokens-roughly 12% of the circulating supply-underscoring sustained buying pressure.

The regulatory greenlight has intensified competition among issuers. 21Shares recently launched its sixth Solana ETF, while Grayscale introduced options trading for its GSOL product to enhance liquidity for institutional investors according to recent news. Bitwise's BSOL fund, which offers staking yields of up to 7% annually, has driven significant inflows, adding $1.49 million on Thursday alone according to market reports. Analysts attribute this resilience to Solana's scalability, active developer ecosystem, and staking rewards, which position it as a "high-beta complement" to Bitcoin and Ethereum products.

However, Solana's price action remains mixed. Despite ETF-driven demand, SOL dropped 4.9% to $152.81 on November 11, breaking below key support levels amid a scheduled token unlock from the FTX bankruptcy estate. The price decline, which saw SOL slip below its 100-week moving average, has raised concerns about a potential slide to $100-a 5-month low last seen in June. Market observers note that while ETF inflows provide underlying support, selling pressure from Alameda Research's ongoing token unlocks-releasing ~8 million SOL since 2023-continues to offset gains.

The regulatory landscape for crypto ETFs is rapidly evolving. VanEck's filing reflects confidence in Solana's maturity as an asset class, with the firm projecting SOL prices could surpass $500 by year-end 2025, driven by ecosystem growth and ETF liquidity. Meanwhile, critics caution that the ETF's success hinges on sustained institutional adoption and macroeconomic stability.

As the SEC finalizes its review, the approval of VanEck's ETF could catalyze broader adoption of Solana-based products, mirroring Ethereum's post-ETF trajectory. With 24 million SOL tokens already accumulated by institutional players, the market appears poised for a pivotal shift-balancing speculative fervor with the structural demands of traditional finance.