Bitop Market Watch VanEck Files Solana ETF Application with SEC SOL Surges 8 Breaking 150 Is the Era of Cryptocurrency ETFs Approaching

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Coin World reported:
At around 9.m. yesterday (27th), ETF issuer VanEck confirmed on Twitter that it submitted an application to the U.S. SEC for the Solana Fund (VANECK SOL TRUST) and expects to issue equity shares for trading on the Cboe BZX Exchange. Specific details are pending issuance notification.
Why did VanEck apply forana ETF?
VanEck’s to apply for a Solana ETF is based on Solana’s unique functionality as a platform. Solana is an open-source blockchain designed to handle various applications including payments,, gaming, and social interactions. Unlike other blockchains, Solana operates as one state machine without sharding or second-layer solutions.
This approach provides a powerful combination of, speed, and low cost which may offer superior user experiences for many use cases. the ability to process thousands of transactions per second at minimal fees in addition to its advanced security mechanisms combining proof-of-history and proof-of-st, make it a robust and accessible blockchain solution.
VanEck believes this combination of throughput, low costs, strong security features, and an active community makes Solana an option for an ETF which will provide investors with exposure to diverse and innovative open-source ecosystemsSOL rose 8% upon hearing this news last night reaching over $150 before time.