Exciting news! VanEck has just rolled out the third exchange-traded fund (ETF) in the US that features Solana staking, and there are even more altcoin-focused funds on the way!
On Monday, the VanEck Solana ETF (VSOL) made its debut, joining the ranks of similar funds launched by Bitwise and Grayscale in late October! Together, these funds have attracted over $380 million!
Just like the Bitwise and Grayscale ETFs, VSOL offers some tasty staking yields. This means your Solana (SOL) can be locked up on the blockchain to earn rewards. Plus, to sweeten the deal, they’ve waived their 0.3% fee until February 17 or until they hit $1 billion in assets—talk about a competitive edge!
Crypto ETFs are making waves as asset managers rush to meet the high demand after the Securities and Exchange Commission streamlined its listing standards in September, speeding up the approval process without needing to assess each individual fund.
Bloomberg ETF analyst Eric Balchunas mentioned on Monday that the Fidelity Solana ETF (FSOL) is set to launch on Tuesday. This new fund will be in direct competition with the three existing ones, all of which charge a 0.25% fee.
“They’re easily the biggest player in this space, especially with BlackRock sitting on the sidelines,” he said.
Dogecoin ETF Could Be Here Soon!
Balchunas thinks we might see a Dogecoin (DOGE) ETF from Grayscale debuting on November 24. This is based on a recent regulatory update that triggered a 20-day window for its launch, unless the SEC throws a wrench in the works.
The Grayscale Dogecoin Trust (DOGE) will transform into an ETF that trades on the New York Stock Exchange. However, it still needs to file for listing, but Balchunas seems optimistic!
“We’ll see how it goes; it won’t be 100% until the exchange gives the nod, but based on SEC guidance, things look promising,” he remarked.
Related: XRP traders hope fresh wave of ETF launches will restore the bull trend
If Grayscale’s fund launches successfully next week, it’ll mark the first Dogecoin ETF in the US that can directly hold the memecoin!
Earlier this past September, asset issuers REX Shares and Osprey Funds teamed up to launch a DOGE ETF, which is registered under the Investment Company Act of 1940. However, this limits its investments to a wholly-owned offshore subsidiary that holds the cryptocurrency.
And don’t count out Bitwise just yet—they might be launching their own spot Dogecoin ETF late next week! Their recent regulatory filing change on November 6 has set a launch timer of 20 days, unless the SEC steps in.
Magazine: Solana vs Ethereum ETFs, Facebook’s influence on Bitwise — Hunter Horsley