VanEck has rolled out a new Solana exchange-traded fund featuring staking rewards, marking the third such product approved for the U.S. market.
The VanEck Solana ETF, trading under the ticker VSOL, debuted on Monday and joins similar offerings launched by Bitwise and Grayscale in late October.
Together, the earlier two funds have already accumulated more than $380 million in inflows.
Staking Rewards and Fee Waiver Designed to Attract Investors
Like its competitors, VSOL allows investors to earn staking rewards by locking Solana on the blockchain.
VanEck also waived the fund’s 0.3% management fee until February 17 or until assets reach $1 billion, giving it a cost advantage in the expanding Solana ETF category.
SEC’s New Rules Clear the Path for Faster ETF Approvals
The Securities and Exchange Commission implemented new listing standards in September, allowing faster processing of crypto ETFs without requiring case-by-case assessments.
Asset managers have since accelerated launches, creating a wave of altcoin-linked ETFs across the market.
More Solana Exposure on the Way
Bloomberg ETF analyst Eric Balchunas said on Monday that the Fidelity Solana ETF is set to launch on Tuesday, positioning it against three existing funds that charge a 0.25% fee.
“Easily the biggest asset manager in this category with BlackRock sitting out,” he said.
Dogecoin ETF May Arrive Next Week
Balchunas added that a Dogecoin ETF from Grayscale could launch on November 24, depending on whether the SEC provides further feedback.
The Grayscale Dogecoin Trust would convert into an ETF and trade on the New York Stock Exchange, pending the exchange’s filing approval.
“We’ll see, won’t be 100% till exchange notice, but based on SEC guidance, it looks good,” he said.
More Dogecoin ETFs Are Lining Up
A separate DOGE ETF from REX Shares and Osprey Funds already launched in September under 1940-Act rules, though it is limited to investing in a wholly owned offshore subsidiary that holds the cryptocurrency.
Bitwise could also see its spot Dogecoin ETF approved late next week due to a filing amendment made on November 6, unless the SEC intervenes beforehand.
