Whats Next for VanEck and 21Shares Solana ETF after Submitting SOL Futures Paperwork

Buttonwheel News
Source: Buttonwheel News
VanEck and 21Shares filed spot Solana ETF documents
After the approval of spot Bitcoin exchange-traded funds (ETFs) and progress on spot Ethereum ETFs, the crypto community has high hopes for a spot Solana ETF. Two crypto giants, VanEck and 21Shares, recently applied for a Solana (SOL) ETF, bringing hope to the Solana community.
It all started on June 2 when investment management company VanEck applied for a spot Solana ETF. Following this application, the largest cryptocurrency exchange-traded product (ETP) issuer, 21Shares, applied for the ETF on June 29. The actions of these giants indicate that institutional interest in SOL is growing.
At the time of writing, SOL was trading at $148.54, down 0.30% intraday, with a market capitalization of $68,657,703,555 and a 24-hour trading volume of $2,269,779,281.


Following the application, the price of SOL suddenly surged 8.72% in the past 7 days. The token soared from $138.85 on June 26 to $154.2 on July 3, then fell to $148.54. The price increase indicates positive progress for SOL and the cryptocurrency industry.
When can we expect a spot Solana ETF?
Since the spot Ethereum ETF has not yet received support from the U.S. Securities and Exchange Commission (SEC), the Solana community may need to wait for the SOL ETF.
Bloomberg analyst James Seyffart predicts that the SEC may support the ETF with the same management by 2025. However, the situation may change if a new committee is established by the White House and the SEC.


Seyfart states that the submission of Form 19b-4 also helps to estimate the approval deadline. As of now, VanEck & 21Shares have chosen the S-1 form to publicly issue new securities.
The future of Solana
The approval of the ETF will make SOL one of the biggest competitors to the spot Ethereum ETF, increasing accessibility for investors. The sudden price increase after the application reflects growing institutional interest in SOL.
Additionally, GSR’s report reveals the potential impact of a Solana ETF and predicts that if approved, the value of SOL will increase 9 times.
In the coming years, the SOL ecosystem will see significant development, potentially bringing assets to a wider range of investors. Additionally, the SOL community may witness further development of meme coins based on Solana.
Dogwifhat (WIF), Bonk (BONK), and Popcat (POPCAT) have all seen significant increases, indicating a surge in demand for products based on Solana. At the time of writing, the trading prices of WIF, BONK, and POPCAT are $2.04, $0.00002487, and $0.5573, respectively.
Conclusion
The launch of the Solana spot ETF demonstrates the increasing maturity of the cryptocurrency market. With the development of regulatory frameworks and the peak of institutional interest, assets such as Solana are becoming more prominent, indicating a future where digital currencies will become more widespread and integrated into mainstream portfolios. The road ahead is full of opportunities and uncertainties, but one thing is clear: the light of Solana is rising.
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