VanEck has just filed an application to create an exchange-traded fund that would track Solana's price.
According to the company's head of digital asset research, Matthew Sigel, this is the first Solana ETF to be filed in the US.
The SEC has recently approved spot ETFs for both Bitcoin and Ethereum, and has also approved Forms 19b-4 for Ethereum ETFs.
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Analysts predict these ETFs could begin trading as early as next week, once registration statements are approved.
The VanEck Solana Trust would trade on the Cboe BZX Exchange, Inc. and hold SOL, using the MarketVectorTM Solana Benchmark Rate to determine the value of its shares on a daily basis.