DTCC lists VanEck’s proposed spot SOL ETF on list of ‘active and pre-launch’ funds

The Block

VanEck’s proposed spot Solana exchange-traded fund has been listed on a page maintained by the Depository Trust and Clearing Corporation (DTCC), an indication that the U.S. Securities and Exchange Commission may soon approve the fund.

The DTCC’s list includes both active and prelaunch ETFs, the latter of which cannot be processed at the DTCC until they receive regulatory approval. The SEC has yet to approve a spot SOL ETF, though Bloomberg analysts think this could happen within months.

The fund, which the DTCC notes cannot be created or redeemed, is listed under the ticker VSOL. Earlier this year, the DTCC added two proposed Solana futures ETFs to this list, Volatility Shares Solana ETF (SOLZ) and Volatility Shares 2x Solana ETF (SOLT), which remain on the list as "redeemable" funds.

DTCC is an SEC-registered securities clearing corporation and a cornerstone of the traditional financial system. The organization has recently been expanding its presence in the crypto space, including the launch of a tokenized collateral platform. It is also reportedly planning to launch a stablecoin.

The SEC has approved spot BTC and ETH exchange-traded products. It has been considering proposals to list funds that would track a variety of alternative crypto assets, including Avalanche and XRP.

Some experts view the agency as likely to favor Solana given that the CME has listed it as a futures product, as well as the network’s meteoric growth and committed group of lobbyists. Recently, the SEC requested that prospective SOL ETF issuers update their S-1 filings, a document that must be approved before any fund can go live.

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DTCC lists VanEck’s proposed spot SOL ETF on list of ‘active and pre-launch’ funds

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