{"id":"solana-etfs","title":"Solana ETFs","content":"**Solana ETFs** are exchange-traded funds (ETFs) designed to track the performance of [Solana](https://iq.wiki/wiki/solana) and are traded on traditional market exchanges rather than [cryptocurrency exchanges](https://iq.wiki/wiki/decentralized-exchange). These exchange-traded funds (ETFs) offer investors a regulated and accessible way to gain exposure to Solana's price movements without directly owning the [cryptocurrency](https://iq.wiki/wiki/cryptocurrency). [\\[2\\]](#cite-id-c7qpluq3rq)\n\n## Solana ETFs Status\n\nSolana-ETFs are currently not available for trading in the US market. However, on June 27, 2024, VanEck[\\[1\\]](#cite-id-yjcv8bpq309), the ETF issuing company, submitted a proposal to the US Securities and Exchange Commission (SEC) to establish an Exchange-Traded Fund (ETF) that will track the performance of Solana directly. The S-1 registration form lodged with the Securities and Exchange Commission (SEC), helped lift the SOL token's 24-hour gain to almost 8%. [\\[2\\]](#cite-id-c7qpluq3rq)[\\[3\\]](#cite-id-1qxod5iqc3n)\n\n> \"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 now deleted post on X arguing that SOL is a commodity, not a security. [\\[4\\]](#cite-id-02axoxr3harf)\"It is utilized to pay for transaction fees and computational services on the blockchain,\" he wrote.[\\[3\\]](#cite-id-1qxod5iqc3n)\n\nSigel[\\[4\\]](#cite-id-02axoxr3harf) added that VanEck filed for a Solana ETF because the [blockchain](https://iq.wiki/wiki/blockchain) acts as a competitor to [Ethereum](https://iq.wiki/wiki/ethereum) with a \"unique combination of scalability, speed, and low costs.\" [\\[3\\]](#cite-id-1qxod5iqc3n)\n\n### Upcoming Elections may Determine Solana ETF Approval\n\nAccording to Matthew Sigel, the Head of Digital Asset Research at VanEck[\\[1\\]](#cite-id-yjcv8bpq309), the upcoming elections may significantly influence the SEC’s decision. During a Bloomberg interview on July 4, 2024, Sigel expressed his worry about Solana being an unregistered security. He mentioned that SOL’s lack of futures market regulation could lead to hurdles during this reviewing period. [\\[5\\]](#cite-id-lh3z6u9nxr)\n\n$$widget0 [YOUTUBE@VID](hde-oXORl7w)$$\n\nMatthew mentioned that there are other commodities with ETFs in the market, including traditional assets, that do not have regulation in the futures market. Because Solana is not considered a security, he hopes that the U.S. SEC will treat it as such and approve the ETF without requiring futures market regulation. [\\[5\\]](#cite-id-lh3z6u9nxr)\n\nSpeculators suggest a win for former president [Donald Trump](https://iq.wiki/wiki/donald-trumps-views-on-cryptocurrency), who is a crypto-friendly candidate during the upcoming elections will aid Solana-ETFs' approval. Matthew agreed that if Gary Gensler remains SEC chair, he might not approve the ETF unless he receives instructions to treat [Solana](https://iq.wiki/wiki/solana) differently. [\\[5\\]](#cite-id-lh3z6u9nxr)\n\n> “I think VanEck’s filing is a sort of call option on the November election,” - James Seyffart, ETF analyst at Bloomberg Intelligence, said during an interview conducted before 21Shares became the second solana applicant. [\\[6\\]](#cite-id-x8o6cjt1xpj)“Under the current SEC administration – based on years of prior approval and denial orders for crypto ETFs – a solana ETF should be denied because there is no federally regulated futures market. But a new admin in the White House and a new SEC admin that’s more amenable to crypto policies could change that calculus.”[\\[6\\]](#cite-id-x8o6cjt1xpj)\n\n### Other Challenges\n\nEric Balchunas, ETF analyst from Bloomberg, doubts that a Solana ETF will be approved as there is no Solana futures ETF in the US. Also, the SEC is concerned about potential fraud and market manipulation affecting spot ETF products. [\\[5\\]](#cite-id-lh3z6u9nxr)\n\n### Invesco and Galaxy File for Solana ETF\n\nIn June 2025, investment firms Invesco and Galaxy Digital filed a proposal with the U.S. Securities and Exchange Commission (SEC) to launch a spot Solana exchange-traded fund (ETF). This move adds them to a growing list of at least nine issuers—including VanEck, 21Shares, and Franklin Templeton—seeking regulatory approval for Solana ETFs. [\\[7\\]](#cite-id-twGfy3Cw9f)\n\nThe filings follow increasing institutional interest in [Solana](https://iq.wiki/wiki/solana) as a [blockchain](https://iq.wiki/wiki/blockchain) platform and reflect broader efforts to expand [crypto](https://iq.wiki/wiki/cryptocurrency)-backed financial products in traditional markets. According to the application, the proposed ETF would directly hold SOL tokens, offering investors exposure without requiring direct custody. [\\[8\\]](#cite-id-YM1FiXeHGe)\n\nThe SEC has yet to approve any spot Solana ETFs, and industry observers continue to monitor regulatory developments closely. The filings arrive amid a surge in ETF-related activity across the crypto space, following the launch of spot Bitcoin and Ethereum ETFs earlier in the year. [\\[7\\]](#cite-id-twGfy3Cw9f) [\\[8\\]](#cite-id-YM1FiXeHGe) [\\[9\\]](#cite-id-PPiyybu4vG)","summary":"Solana ETFs are funds that track Solana's performance on traditional exchanges, offering regulated exposure without direct ownership of the cryptocurrency.","images":[{"id":"QmRCJMTW5JxtJjpHyiuLcg7Nwm7VBZgboVfFhDFbp9SPfF","type":"image/jpeg, image/png"}],"categories":[{"id":"defi","title":"defi"}],"tags":[{"id":"Solana"},{"id":"Glossary"}],"media":[{"id":"https://www.youtube.com/watch?v=hde-oXORl7w","size":0,"name":"hde-oXORl7w","source":"YOUTUBE"}],"metadata":[{"id":"references","value":"[{\"id\":\"yjcv8bpq309\",\"url\":\"https://www.vaneck.com/lu/en/\",\"description\":\"VanEck site\",\"timestamp\":1720614313898},{\"id\":\"c7qpluq3rq\",\"url\":\"https://indodax.com/academy/en/what-is-solana-etf/#:~:text=at%20market%20prices.-,Proposal%20VanEck%20Solana%20ETF,the%20performance%20of%20Solana%20directly.\",\"description\":\"what is solana etf?\",\"timestamp\":1720614167430},{\"id\":\"1qxod5iqc3n\",\"url\":\"https://www.coindesk.com/business/2024/06/27/vaneck-files-for-solana-etf-sol-rises-6/\",\"description\":\"VanEck Files for Solana ETF, SOL Rises 8%\\n\",\"timestamp\":1720614514318},{\"id\":\"02axoxr3harf\",\"url\":\"https://x.com/matthew_sigel/\",\"description\":\"matthew sigel's twitter profile\",\"timestamp\":1720614660955},{\"id\":\"lh3z6u9nxr\",\"url\":\"https://www.cryptopolitan.com/cboe-files-vaneck-21shares-solana-etfs-sec/\",\"description\":\"Cboe files for VanEck and 21Shares Solana ETFs with the U.S. SEC\",\"timestamp\":1720615884789},{\"id\":\"x8o6cjt1xpj\",\"url\":\"https://www.coindesk.com/news-analysis/2024/06/28/solana-etf-applications-look-like-bets-on-trump-retaking-white-house-making-us-friendlier-to-crypto/\",\"description\":\"Solana ETF Applications Look Like Bets on Trump Retaking White House, Making U.S. Friendlier to Crypto\\n\",\"timestamp\":1720616539485},{\"id\":\"twGfy3Cw9f\",\"description\":\"Invesco and Galaxy enter race for Solana ETF with new SEC filing\",\"timestamp\":1750947212099,\"url\":\"https://www.theblock.co/post/359724/invesco-and-galaxy-enter-race-for-solana-etf-with-new-sec-filing\"},{\"id\":\"YM1FiXeHGe\",\"description\":\"Invesco Galaxy files for Solana ETF, 9 issuers now in the race\",\"timestamp\":1750947281012,\"url\":\"https://cointelegraph.com/news/invesco-galaxy-files-solana-etf-making-nine-bidders\"},{\"id\":\"PPiyybu4vG\",\"description\":\"Solana, Pudgy Penguins ETF Filings Added to SEC's Crypto To-Do List\",\"timestamp\":1750947426443,\"url\":\"https://decrypt.co/327076/solana-pudgy-penguins-etf-filings-sec-crypto\"}]"},{"id":"previous_cid","value":"\"https://ipfs.everipedia.org/ipfs/QmSkUkR6LexYzA33h3MWYV6MunVnwDgMFkZ9HQEErmMngg\""},{"id":"commit-message","value":"\"Update ID in wiki article.\""},{"id":"previous_cid","value":"QmSkUkR6LexYzA33h3MWYV6MunVnwDgMFkZ9HQEErmMngg"}],"events":[{"id":"zBVjxcHJgm","date":"2024-06","title":"Proposal Submission for Solana-ETFs","type":"DEFAULT","description":"On June 27, 2024, VanEck, the ETF issuing company, submitted a Solana-ETF proposal to the SEC","link":"https://www.coindesk.com/business/2024/06/27/vaneck-files-for-solana-etf-sol-rises-6/"}],"user":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"author":{"id":"0x8af7a19a26d8fbc48defb35aefb15ec8c407f889"},"language":"en","version":1,"linkedWikis":{"blockchains":[],"founders":[],"speakers":[]}}