VanEck, a leading asset management giant, has confirmed that it has submitted an application to the US Securities and Exchange Commission (SEC) for the issuance of equity common shares for the Solana Trust (ANECK SOLANA TRUST). The company plans to list these shares for trading on Cboe BZX exchange, pending further notice. This news has caused a surge in both Solana’s mainnet and its ecosystem. Among the key assets within the SOL ecosystem are JTO, j, RAY, and other meme coins. Additionally, three of these tokens – bome, wif, bonk – have been listed on Binance.
In response to this development, Matthew Sigel, Director of Digital Assets Research at VanEck released a statement explaining this application. The following is a full translation:
“I am excited to announce that VanEck has just applied for the first Solana Exchange Traded Fund (ETF) in America. Here are some thoughts on why we believe SOL is a commodity.
Why did we apply for a Solana ETF?
As a competitor to Ethereum Solana is an open-source blockchain platform designed to handle various applications including payments, transactions, games and social interactions. Operating a single global state machine without sharding or Layer 2 solutions sets it apart by offering unique scalability combined with speed low cost which can provide better user experience for many use cases.
Why do we consider SOL a commodity like Bitcoin and Ethereum?
We believe that the native token SOL functions similarly to other digital commodities such as #Bitcoin and #ETH. It is used to pay transaction fees on the blockchain network as well as computing services. Similar to Ether on Ethereum network,SOL can be traded on digital asset platforms or used in peer-to-peer transactions.The extensive range of applications and services supported by Solana’s ecosystem from decentralized finance (DeFi)to non-fungible tokens(NFTs), highlightthe practicalityand valueofSOLas adigitalcommodity.”
