VanEck and Grayscale are doubling down on Solana, each rolling out new exchange-traded funds that give investors direct exposure to the fast-growing blockchain—plus a share of staking rewards. The launches come at a time when Solana’s price has been under pressure, making the next wave of ETF inflows especially important.
VanEck officially debuted its Solana ETF on Nasdaq on Nov. 17, opening the door for institutional investors to access SOL without holding the token directly. According to filings, the fund was initially seeded with a basket of Solana bought at the end of October. To attract early interest, VanEck is waiving its sponsor fee for a limited time, though the product still carries a unified expense ratio.
State Street Bank has been appointed the administrator, and two major custodians will handle crypto storage. VanEck also plans to stake part of the SOL held in the fund through third-party validators. Any rewards earned will be added to the ETF’s net asset value, offering investors additional yield. The initial validator has also agreed to waive its staking fee during the introductory period.
Grayscale entered the race slightly earlier, launching its own spot Solana fund in late October. The product quickly pulled in substantial assets, driven by strong inflows during its first days of trading. That early momentum made it the first U.S.-listed Solana ETF. Grayscale charges a management fee and recently trimmed its staking fee until the fund grows to a preset size, allowing most of the staking rewards to flow back to investors.
The backdrop for these launches, however, has been turbulent. Solana’s price has taken a noticeable hit in recent weeks, falling well below where it traded just a month earlier. After peaking earlier this year, the token has been in a corrective phase. Analysts say SOL is hovering near an important support zone; a breakdown could accelerate losses, while a move above a key resistance level would suggest fading bearish sentiment. Volatility has picked up as trading volumes rise.
Despite the rocky market, some analysts still expect the combined inflows into Solana ETFs to be significant over their first year. Ultimately, the success of these funds—along with investor appetite—will likely track Solana’s ability to stabilize and reclaim upward momentum.
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