Solana News Today: VanEck's SOL ETF Custody Pact Signals Institutional Embrace of Blockchain Assets

VanEck, a leading asset manager, has selected SOL Strategies as the custodian service provider for its upcoming Solana (SOL) spot exchange-traded fund (ETF), marking a significant step in the institutional adoption of blockchain-based assets. The partnership, announced on November 17, 2025, will see SOL Strategies leverage its Orangefin validator node-acquired in December 2024 to stake the SOL tokens held in the ETF. This move aligns with VanEck's broader strategy to expand its digital asset offerings, following the successful launch of two other Solana ETFs by Bitwise and Grayscale, which have collectively attracted $382 million in inflows since October 28.

The Orangefin validator node, already certified under ISO 27001 and SOC 2 standards, is currently securing over $4.37 billion in staked assets, underscoring its institutional-grade security and operational reliability. Kyle DaCruz, VanEck's director of digital assets, highlighted SOL Strategies' "proven track record in validator operations and institutional focus" as key factors in the selection. The staking process will generate yield for the ETF by participating in Solana's proof-of-stake consensus mechanism, while maintaining compliance with U.S. regulatory requirements as reported.

For SOL Strategies, the partnership reinforces its position as a bridge between traditional finance and decentralized infrastructure. The firm, which rebranded from Cypherpunk Holdings in 2024, holds 524,000 SOL in its treasury and operates under the tickers HODL (Canadian Securities Exchange) and STKE (Nasdaq Capital Market). Michael Hubbard, interim CEO of SOL Strategies, emphasized that the collaboration validates the company's infrastructure capabilities and reflects growing institutional interest in "compliant, high-performance staking solutions" for Solana.

The ETF, which filed an 8-A registration statement with the Securities and Exchange Commission, is poised to capitalize on the expanding Solana ecosystem. With two existing Solana ETFs already in circulation, the market is signaling strong demand for exposure to the blockchain's native token. VanEck's entry could further legitimize Solana as an asset class, particularly as institutional investors seek diversified digital asset portfolios.