VanEck’s Solana ETF Moves Closer to US Trading with DTCC Listing

VanEck’s proposed spot Solana exchange-traded fund (ETF), VSOL, has been listed under the “active and pre-launch” category on the Depository Trust & Clearing Corporation’s (DTCC) platform. This development marks a significant step forward in the potential approval of the ETF, bringing it closer to possible trading on US exchanges. The listing indicates that the fund is registered for future electronic trading and clearing, although it cannot currently be created or redeemed. This move reflects a broader trend of institutional recognition for Solana-based investment products.

The DTCC listing follows the SEC’s recent request for updated S-1 registration forms from issuers, including VanEck. The presence of VSOL on the DTCC’s platform signals that the necessary infrastructure is being prepared should the ETF receive regulatory clearance. Analysts have noted that the SEC is actively engaging with S-1 filings for Solana-based ETFs, suggesting a growing openness to expanding crypto ETF offerings. However, the timelines for approvals remain uncertain.

The SEC has already approved spot ETFs for Bitcoin and Ethereum, and attention is now focused on whether Solana will be the next cryptocurrency to receive similar approval. The DTCC listing of VSOL is part of a broader wave of institutional interest in Solana. Earlier in the year, futures-based Solana ETFs were also listed on the DTCC but remain in redeemable-only status. Several asset managers, including Bitwise, CoinShares, and Franklin Templeton, have filed for spot Solana ETFs, though decisions on some of these applications have been delayed.

VanEck, which has already launched Bitcoin and Ethereum futures ETFs and manages multiple digital asset funds globally, aims to provide investors with regulated access to one of the most actively used blockchains in the DeFi and NFT space by adding Solana to its offering. Solana’s ability to process thousands of transactions per second, coupled with a robust developer ecosystem and growing adoption in Web3 applications, has made it a leading candidate for mainstream financial integration. According to a decentralized prediction market, traders assign a 91% chance that a Solana ETF will be approved by 2025.

Despite the development, Solana’s native token, SOL, was trading at $147.93 at the time of writing, down nearly 3% in the past 24 hours. The price movement reflects caution, possibly due to broader market volatility or the uncertainty around the SEC’s timeline for a final decision. While listing with the DTCC is a critical part of bringing an ETF to market, it does not mean immediate launch. Instead, it demonstrates that the fund has met preliminary clearing and trading eligibility standards. The actual trading date for VSOL has yet to be confirmed. In the background, the SEC continues to evaluate filings for Solana ETFs. The outcome will determine whether Solana joins Bitcoin and Ethereum as the third cryptocurrency to be granted full spot ETF approval in the US.