VanEck’s Solana ETF Hits DTCC: Is SEC Approval Imminent?

Wall Street''s crypto dance continues as VanEck''s Solana ETF lands on the DTCC—just one regulatory hurdle left.

SEC showdown incoming: Will the ''Howey Test'' cops play nice with SOL''s explosive growth?

Meanwhile, TradFi dinosaurs still think ''blockchain'' is a type of Excel formula.

VanEck sees the listing as part of the launch process, even though it doesn’t guarantee approval. In the past, SEC has been very conservative when it comes to approving spot crypto ETFs. 

Bitcoin and ethereum have already jumped the fence, but Solana is still in line. This listing on DTCC, however, is a big milestone and indicates increasing momentum in Solana ETFs. On Polymarket, approval odds of a Solana ETF have increased to 91 percent, reflecting the confidence of analysts.

Bloomberg analysts James Seyffart and Eric Balchunas expect SEC to approve Solana ETFs in the coming month, particularly with the CME set to launch Solana futures. Another indication of progress is that the SEC has been collaborating with issuers in updating their S-1 filings.

As the demand of crypto ETFs increases, companies such as CoinShares, Bitwise, and Franklin Templeton are also entering the Solana ETF competition. Others are even incorporating staking capabilities, which are a sign of a wider investor base.

The listing on the DTCC could be the catalyst Solana ETFs require to become mainstream.

Also Read: Seven Firms File Spot Solana ETF S-1s With Staking