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Asset manager VanEck filed to sell shares in a Solana (SOL) exchange-traded fund (ETF), the first such registration in the U.S., just six days after 3iQ filed for a similar product in Canada. The S-1 registration form lodged with the Securities and Exchange Commission (SEC), helped lift the SOL token's 24-hour gain to almost 8%. The CoinDesk 20 Index (CD20), a measure of the broader crypto market, has added 1.8%. VanEck has been known to be a first mover in this space. The asset manager was the first to file for a spot ether (ETH) ETF back in 2021, almost three years before the SEC began to engage with issuers that now include BlackRock, Fidelity, Ark Invest and others. An additional filing was lodged in September last year. "We believe the native token, SOL, functions similarly to other digital commodities such as bitcoin and ETH," VanEck's head of digital assets research, Matthew Sigel, wrote in a post on X arguing that SOL is a commodity, not a security. "It is utilized to pay for transaction fees and computational services on the blockchain," he wrote. Via: CoinDesk https://lnkd.in/dPjFgGi8 #solanaetf #etf #bitcoin #crypto #blockchain

Grayscale has filed for a spot SOL-ETF The company wants to convert Solana Trust ($122.4 million) into an ETF, similar to BTC and ETH. The first deadline for approval of the SOL ETF is 23 January. SOL has quadrupled in a year, +42% in the last month. Its market cap is 114bn (5th in the world). After the launch of spot ETFs, BTC is up 119% and ETH is up 14%. Investors are withdrawing funds from the Grayscale ex-trusts following the approval: BTC—$19.9 billion, ETH—$3 billion. Their funds are more expensive than others. 21Shares, Canary Capital, VanEck, and Bitwise Inc have also filed for SOL ETFs. Solana is an L1 #blockchain whose main advantage is the speed of transactions. DEX is also built on SOL, and most #memcoin trading occurs on it.  All significant news on the world of crypto you may find here: https://lnkd.in/eTgGbFra

Signals of institutional adoption abound today! Ripple’s XRP has surged past Tether’s USDT to claim the spot as the world’s third-largest cryptocurrency by market capitalisation, trailing only Bitcoin and Ethereum. Adding to the buzz, Fox Business Network reported that the New York State Department of Financial Services could soon approve Ripple’s RLUSD stablecoin, with a potential launch anticipated this week. Read Ryan S. Gladwin's article for Decrypt to learn more: https://lnkd.in/erDdd576 In another significant development, WisdomTree Asset Management has joined the likes of Bitwise Asset Management and Canary Capital by filing for an XRP ETF. #XRP #Bitcoin #Ethereum #Stablecoins #ETF

21Shares filed an S-1 application with the United States Securities and Exchange Commission for a spot Solana exchange-traded fund (ETF) on June 28. The fund will be called the 21Shares Core Solana ETF. This is the second application the SEC has received for a spot SOL ETF, following VanEck’s filing on June 27. The proposed ETF will trade on the Cboe BZX Exchange. Coinbase will serve as the custodian for the fund’s Solana holdings, which will be insured privately. The fund’s assets will be held in segregated wallets on the Solana blockchain. The fund will not participate in validating or staking SOL. The intra-day value of shares will be calculated every 15 seconds. The value of SOL in the fund will be determined daily at 4:00 pm ET (09:00 pm UTC). #solanaetf #21shares #arcinvest #cryptopdates #web3

Solana ETF Faces SEC Scrutiny as Approval Timeline is Announced ➡️ Read All : https://lnkd.in/eYXnSng7 The SEC will decide on Solana-based ETF applications from VanEck, 21Shares, Canary, and Bitwise by January 25, 2025. Grayscale’s application to convert its Solana Trust... [...] #SEC, #Solana, #CryptoETF, #BlockchainInvestment, #InstitutionalInterest, #Crypto, #Altcoins, #NBTC

🚀 Bitwise Takes Bold Step Toward Launching XRP ETF Bitwise has filed an S-1 with the SEC as part of its ambitious effort to launch a new exchange-traded fund (ETF) linked to XRP. Following the registration of an XRP ETF trust in Delaware, Bitwise is setting the stage for XRP to potentially join Bitcoin and Ethereum in the ETF arena. 🔍 Key Developments: - 📄 SEC S-1 Filing: An essential step toward issuing an XRP ETF. - 💡 Industry Insight: Bitwise is seen as a trusted name in crypto funds, making this move noteworthy. - ⌛ Approval Timeline: An additional 19b-4 filing is required, with the process potentially taking years, as seen in previous ETF approvals. XRP, with its $33 billion market cap, stands as the seventh-largest cryptocurrency. This ETF initiative could broaden access and signify a major leap for Ripple's associated token. 🤔 Will XRP's ETF journey mirror the lengthy approval paths of Bitcoin and Ethereum, or will we see accelerated progress? What implications does this have for the crypto industry and investors? Share your thoughts below! #XRP #Bitwise #CryptoETF #Ripple #Cryptocurrency #Blockchain #SEC #Investing Read More: https://lnkd.in/ew7c2m6t

Investors Eye Solana: Could a Solana ETF Be on the Horizon? Following the successful launch of spot #bitcoin and #ethereum exchange-traded funds (#ETFs) this year, crypto investors are now eyeing a potential #SolanaETF. Solana, the fifth most-popular cryptocurrency with a market capitalization exceeding $82 billion, offers mainstream investors a new opportunity for diversification. Despite facing challenges after the collapse of #FTX in 2022, Solana has rebounded, benefiting from lower fees and success with memecoin issuers. Investment firm #FranklinTempleton, a prominent issuer of spot bitcoin and Ethereum ETFs, has highlighted Solana's adoption and technological advancements as reasons for its potential. Solana has seen $2.9 billion in trades over the past 24 hours. Alongside Franklin Templeton, firms like #VanEck and #21Shares have filed applications with the #USESEC for a Solana ETF, with a response expected by mid-March 2025. #ETFanalyists, including Bloomberg’s #EricBalchunas, suggest that more crypto ETFs will likely emerge as the market for digital asset products continues to expand. #SolanaETF #BitcoinETF #EthereumETF #CryptoInvesting #FranklinTempleton #FTX #VanEck #21Shares #USESEC #EricBalchunas

𝗖𝗮𝗻 𝗘𝘁𝗵𝗲𝗿𝗲𝘂𝗺 𝗘𝗧𝗙𝘀 𝗺𝗮𝘁𝗰𝗵 𝘁𝗵𝗲 𝘀𝘂𝗰𝗰𝗲𝘀𝘀 𝗼𝗳 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙𝘀? 🧐 With Ethereum ETFs now trading since July 23, 2024, they hold the potential to attract significant inflows. 𝗙𝗮𝗰𝘁𝗼𝗿𝘀 𝗶𝗻𝗳𝗹𝘂𝗲𝗻𝗰𝗶𝗻𝗴 𝘁𝗵𝗲𝗶𝗿 𝘀𝘂𝗰𝗰𝗲𝘀𝘀 𝗶𝗻𝗰𝗹𝘂𝗱𝗲: 𝗦𝘁𝗮𝗸𝗶𝗻𝗴 𝗮𝗻𝗱 𝗟𝗼𝗰𝗸𝗲𝗱 𝗔𝘀𝘀𝗲𝘁𝘀: - A significant portion of ETH is locked in staking, bridges, and smart contracts, reducing circulating supply and increasing price sensitivity. - As of mid-2024, around 15% of ETH supply is staked in the Ethereum 2.0 contract, with additional amounts locked in DeFi protocols and bridges. 𝗥𝗲𝘁𝗮𝗶𝗹 𝗮𝗻𝗱 𝗜𝗻𝘀𝘁𝗶𝘁𝘂𝘁𝗶𝗼𝗻𝗮𝗹 𝗗𝗲𝗺𝗮𝗻𝗱: - Initial inflows are expected from retail investors due to easier access through ETFs. Institutional interest is likely to grow as wealth management platforms increase accessibility. - Since Ethereum in ETFs doesn't earn staking rewards, it might not be as appealing to investors looking for regular returns. 𝗖𝗼𝗺𝗽𝗮𝗿𝗶𝘀𝗼𝗻 𝘄𝗶𝘁𝗵 𝗕𝗶𝘁𝗰𝗼𝗶𝗻 𝗘𝗧𝗙𝘀: - Bitcoin ETFs attracted $15.1 billion in the first five months, setting a benchmark for Ethereum ETFs. What are your thoughts on this? 🤔 #Ethereum #EthereumETF #BitcoinETF #Crypto #Blockchain #Investing #DeFi Gemini Steno Research Bitwise Asset Management K33 Research J.P. Morgan

Grayscale, a leader in digital asset management, has filed with the SEC to convert its $520 million Digital Large Cap Fund into a spot #ETF, with the filing submitted via the New York Stock Exchange (NYSE) - https://zurl.co/clWM. Grayscale fund includes a mix of major cryptocurrencies like #Bitcoin (76%), #Ethereum (18%), with the rest in #Solana, #XRP and #Avalanche. Why does this matter? A spot ETF would allow investors to buy and sell shares in the fund with greater ease, providing broader access to crypto investments. This move follows the SEC's approval of Grayscale’s Bitcoin and Ethereum ETFs earlier this year, marking another step toward mainstream crypto adoption. While ETFs are gaining popularity, they will never truly be the same as holding real cryptocurrencies. Owning the actual digital assets makes a significant difference - something ETFs simply can't offer. As interest in crypto rises, protecting and managing these assets becomes more important than ever. Ensure your funds are safe and secure with Vaultody's custodial solutions! #Vaultody #Crypto #ETFs #Blockchain #Grayscale #SEC #NYCE #DigitalAssets #CryptoCustody

🚀 Breaking: Solana ETF Race Heats Up Globally! 🔥 This week in crypto: • VanEck and 21Shares file for first-ever spot Solana ETFs in the US 📊 • Canadian firm 3iQ joins the race, files for Solana ETF in Canada 🍁 • SEC faces new challenge: Evaluate SOL before BTC/ETH spot approvals? 🤔 • Solana price reacts to ETF buzz, rising 11% before almost completely paring gains Key takeaways: 3iQ's "The Solana Fund (QSOL)" could be North America's first Solana ETF Canadian filing includes staking yields (6-8% estimated) Over $1 billion in Solana ETPs already exist globally US approval chances in 2024? Still slim. Is Solana ready for prime time in North America, or is this a long shot?#Crypto #SolanaETF #FinTech #Blockchain #Solana #VanEck #3iQ #21Shares