The filing is the first Solana ETF to be filed in the U.S. and follows six days after a similar product filing in Canada.
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VanEck files for Solana ETF, SOL rises 8%
"We believe the native token, SOL, functions similarly to other digital commodities such as bitcoin and ETH," VanEck's head of digital assets research, Matthew Sigel, wrote in a post on X arguing that SOL is a commodity, not a security. "It is utilized to pay for transaction fees and computational services on the blockchain," he wrote.
