VanEck’s Spot Solana ETF Nears SEC Approval with 90% Approval Odds

VanEck’s proposed spot Solana ETF, VSOL, is now listed on the Depository Trust and Clearing Corporation (DTCC) website.

Written by: Arslan Butt • Wednesday, June 18, 2025 • 1 min read

• Last updated: Wednesday, June 18, 2025

Quick overview

VanEck's proposed spot Solana ETF, VSOL, is now listed on the DTCC website, marking a significant milestone for Solana products in the US.
Market analysts estimate a 90% chance of SEC approval for the Solana ETF within the next few months, driven by strong performance and ongoing dialogues with issuers.
Several asset managers, including CoinShares and Bitwise, are also launching Solana-related ETFs, indicating a growing demand for diverse cryptocurrency investment products.
As regulatory clarity improves, Solana ETFs could become mainstream, further legitimizing cryptocurrency in traditional markets.

VanEck’s proposed spot Solana ETF, VSOL, is now listed on the Depository Trust and Clearing Corporation (DTCC) website. This puts the ETF in the “active and pre-launch” category, a big milestone for Solana based products in the US.

The fund is not yet eligible for creation or redemption ( pending SEC approval) but being on the DTCC means momentum towards approval.

Historically the SEC has been slow to approve spot crypto ETFs. While Bitcoin and Ethereum ETFs have been approved, Solana has not. But VanEck is showing confidence that a change may be coming.

90% Chance of Approval

Market analysts are getting more optimistic. According to Bloomberg’s James Seyffart and Eric Balchunas, the chances of the SEC approving a Solana ETF is 90% and could happen as early as the next few months.

Reasons include:

Strong Solana performance in 2024
CME’s potential Solana futures listing
SEC dialogues with issuers to revise S-1 filings
Polymarket data showing 91% approval probability

This means the SEC is actively reviewing the product and approval may not be far off.

Solana Based ETFs in Demand

VanEck isn’t the only one. Several other asset managers are launching Solana related ETFs:

CoinShares and Bitwise have also filed.
Franklin Templeton’s Solana ETF proposal was recently delayed.
Some are adding staking to their ETF filings to meet investor demand.

This is a broader trend towards diversifying cryptocurrency investment products beyond Bitcoin and Ethereum.

According to CoinGecko, Solana is the 5th largest cryptocurrency by market cap, so it’s a natural next step for ETFs.

As regulatory clarity improves and institutional interest grows, Solana ETFs could soon be mainstream investment products and further legitimize crypto in traditional markets.

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ABOUT THE AUTHOR See More

Arslan Butt

Lead Markets Analyst – Multi-Asset (FX, Commodities, Crypto)

Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics. His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker. His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.