VanEck’s proposed spot Solana exchange-traded fund has quietly appeared on the Depository Belief & Clearing Company’s web site underneath the ticker VSOL, putting the product within the clearinghouse’s “active & pre-launch” roster. “BREAKING: VanEck’s Solana ETF (VSOL) is now listed on DTCC… While not an SEC approval, it’s a preparatory step, mirroring BTC and ETH ETFs,” the analytics account SolanaFlooring informed its 109,000 followers on X in a single day.
VanEck’s Solana ETF Hits DTCC Itemizing
The DTCC entry indicators that the fund’s operational plumbing—creation/redemption identifiers, commerce settlement codes and clearing eligibility—has been assigned, regardless that shares can not but be issued. Derivatives and prediction markets reacted swiftly. On Polymarket, the contract that pays out if any Solana ETF is authorized by 31 July 2025 now costs a 58–60 % likelihood, whereas the full-year contract has surged to 92%.
Regulatory handicappers are nonetheless leaning bullish. Bloomberg Intelligence’s Eric Balchunas wrote that buyers ought to “get ready for a potential alt-coin ETF summer with Solana likely leading the way,” and along with colleague James Seyffart now assigns a 90% probability of eventual approval.
Seyffart tempered near-term euphoria, nevertheless, warning that “there needs to be a back-and-forth with the SEC and issuers to iron out details,” recalling the flurry of paperwork that preceded January 2024’s spot-Bitcoin launches.
That dialogue is already underneath method. The SEC requested would-be issuers to amend their S-1 registration statements final week; seven managers—together with Constancy, Bitwise, Franklin Templeton, 21Shares, Grayscale and Canary—filed updates on 13 June. European digital-asset home CoinShares adopted yesterday, changing into the eighth entrant within the race.
Macro construction additionally seems friendlier than throughout earlier alt-coin makes an attempt. CME Group launched cash-settled futures in mid-March, including the asset to its regulated derivatives suite.
Whereas the DTCC itemizing doesn’t bind the SEC, it locations VanEck’s fund on the identical procedural monitor that preceded January 2024’s Bitcoin and July 2024s Ether approvals. Whether or not that monitor results in a July debut—or slips to year-end—now hinges on how rapidly workers conclude their evaluate of staking language, custody mechanics and market-manipulation surveillance.
For merchants, the presence of VSOL on DTCC’s screens is greater than beauty: it demonstrates that, not less than on the market-infrastructure facet, the swap has been wired and examined—ready just for a regulatory finger to press “on.”
When SEC Approval?
Notably, the SEC delayed Franklin Templeton’s spot-Solana ETF utility yesterday—a pause that analyst James Seyffart referred to as “expected… [because] today was only an intermediary deadline.” He added that the company’s ongoing dialogue over the up to date S-1s for Solana-staking merchandise is “a very positive sign,” even when “timelines for approvals are less certain.”
Fellow Bloomberg ETF watcher Eric Balchunas concurred, reiterating his 90% base-case odds of eventual approval whereas cautioning that the present “2-to-4-week” horizon is “ambitious”: “The ball is in the SEC’s court after the S-1s are re-filed; the dialogue between staff and issuers is a great sign, but the timeline is less clear.”
Seyffart summed up the temper: “I wouldn’t be shocked if we see approvals in the next month, but I also wouldn’t be surprised if we have to wait until the final deadline in October… At the end of the day, the SEC is engaging—and that’s a good sign.”
At press time, SOL traded at $145.89.
Featured picture created with DALL.E, chart from TradingView.com
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