VanEck Ships Solana ETF, First Spot DOGE ETF Expected Monday

VanEck has launched the US’s third exchange-traded fund (ETF) that includes Solana staking, as extra altcoin-tied funds are set to enter the market quickly.

The VanEck Solana ETF (VSOL) launched on Monday, becoming a member of comparable funds from Bitwise and Grayscale that debuted late in October and have collectively seen over $380 million in inflows.

Like Bitwise and Grayscale’s ETFs, VSOL affords staking yields, the place Solana (SOL) is locked up on the blockchain to earn rewards. It has additionally waived its 0.3% payment till Feb. 17 or till it reaches $1 billion in belongings in a bid to compete.

Asset managers have been flooding the market with crypto ETFs after the Securities and Alternate Fee modified its itemizing requirements in September, permitting for quicker approvals that don’t require an evaluation of every fund.

Bloomberg ETF analyst Eric Balchunas stated on Monday that the Constancy Solana ETF (FSOL) is about to launch on Tuesday, competing with three present comparable funds that cost a 0.25% payment.

“Simply the most important asset supervisor on this class with BlackRock sitting out,” he added.

Dogecoin ETF may launch as quickly as Monday

Balchunas stated he expects a Dogecoin (DOGE) ETF from Grayscale to launch on Nov. 24, primarily based on an amended regulatory submitting earlier this month kicking off a 20-day interval the place it may well launch if the SEC doesn’t reply.

The Grayscale Dogecoin Belief (DOGE) is a conversion from its present fund and would commerce on the New York Inventory Alternate, which should nonetheless file to record the ETF.

“We’ll see, received’t be 100% until trade discover, however primarily based on SEC steerage, it seems good,” Balchunas added.

Associated: XRP merchants hope contemporary wave of ETF launches will restore the bull pattern 

If Grayscale’s fund launches subsequent week, it’ll be the primary Dogecoin ETF within the US that can have the ability to straight maintain the memecoin.

Asset issuers REX Shares and Osprey Funds collectively launched a DOGE ETF in mid-September, registered underneath the Funding Firm Act of 1940, which limits its funding to an entirely owned offshore subsidiary that holds the cryptocurrency.