VanEck, according to the head of VanEck’s digital asset research department, is the first U.S. firm to submit a Solana ETF application. VanEck filed a SOL ETF application. The company was one of the first to issue Bitcoin spot ETFs.
Matthew Sigel heads the digital asset research department at VanEck. announced on X They submitted an application for a Solana ETF to the U.S. Securities and Exchange Commission on June 27, 2009.
Sigel explained why VanEck views SOL as a commodity. He said that SOL operates in a similar way to digital commodities such as Bitcoin and ETH. SOL is used for transaction fees on the blockchain and to provide computational services. SOL, like ether in the Ethereum network can be used to make peer-to-peer payments or traded through digital asset platforms.
Michael continued to state that the “Solana blockchain’s unique combination of scalability, speed, and low costs may offer a better user experience for many use cases.”
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“By enabling thousands of transactions per second with minimal fees and employing an advanced security mechanism that combines proof-of-history and proof-of-stake, we believe Solana stands out as a powerful and accessible blockchain software.”
SOL continued its upward trend after rising 6.9% immediately following the announcement of Solana ETF. VanEck believes that Solana has great potential because it can handle thousands of transactions every second, with low fees. The blockchain offers advanced security that is both reliable and secure. proofThe history of the. proof-of-stakeSolana is a powerful and easily accessible blockchain.
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Source: watcher.guru