VanEck's Solana ETF Listed on DTCC Awaiting SEC Approval

The Depository Trust and Clearing Corporation (DTCC) has listed VanEck’s proposed Solana (SOL) ETF on its website with the ticker VSOL. This move suggests that the U.S. Securities and Exchange Commission (SEC) may soon approve VanEck’s application for a SOL ETF. The DTCC’s list includes active and pre-launch ETFs, and pre-launch ETFs cannot be processed at the DTCC until they receive regulatory approval from the SEC. The fund cannot be created or redeemed until it receives regulatory approval.

Earlier in 2025, the DTCC added two proposed Solana futures ETFs to the list: Volatility Shares Solana ETF (SOLZ) and Volatility Shares 2x Solana ETF (SOLT). These two SOL futures ETFs are still on the list as redeemable funds. On March 20, the two SOL futures ETFs went live in the U.S., triggering a price surge for SOL. However, the price of SOL has since experienced volatility, with a slight decrease in the past 24 hours. Despite this, SOL’s price surged from a bottom at $146 on June 17, to over $148 on June 18. At the time of writing, SOL is trading above $147 with a market cap of more than $77.88 billion.

VanEck's proposed spot Solana ETF has been listed on the Depository Trust and Clearing Corporation (DTCC) platform, signaling a significant step towards potential approval by the U.S. Securities and Exchange Commission (SEC). The ETF, currently marked as dormant with a "D" status on the DTCC's site, indicates that it is in a planning stage awaiting SEC endorsement. This development has sparked optimism among analysts, with some predicting a high likelihood of approval, although the exact timing remains uncertain.

The listing of VanEck's Solana ETF on the DTCC platform is a crucial indicator of the progress towards regulatory approval. While the presence on the DTCC's list does not guarantee immediate approval, it suggests that the SEC is actively considering the proposal. This move has enhanced investor confidence and signaled increasing momentum in the cryptocurrency market. Several asset managers have filed proposals for spot Solana ETFs, but none have yet been approved for trading in the U.S. The SEC's public comment periods for similar proposals, such as those from Franklin Templeton, have pushed back the decision deadlines, indicating a thorough review process.

The potential approval of a Solana ETF could have significant implications for the cryptocurrency's long-term prospects. According to analysts' forecasts, there is a high chance that the SEC will approve pending Solana ETF S-1 registrations by the end of July. This optimism is driven by the DTCC listing and the SEC's active engagement with public comments on related proposals. The approval of a Solana ETF would not only provide investors with a regulated investment vehicle but also boost the overall confidence in the cryptocurrency market.

Despite recent price volatility, Solana's ecosystem remains robust. The network's decentralized applications (DApps) continue to generate substantial revenue, with a total value locked (TVL) of $10.4 billion in decentralized finance. This strong ecosystem fundamentals, coupled with the potential for ETF approval, suggest a positive long-term outlook for Solana. If the regulations receive the green light, SOL could see a significant rise, potentially reaching levels witnessed in past bull cycles. However, short-term price movements will depend on breaking key resistance levels, with potential for significant gains if successful.