VanEck’s Solana ETF, with the ticker symbol VSOL, is now listed on the Depository Trust & Clearing Corporation (DTCC). This doesn’t mean the SEC has approved it yet, but it’s a big step forward. Think of it as getting all the behind-the-scenes paperwork and infrastructure ready before launch.
DTCC Listing: What it Means
The DTCC listing means the ETF’s operational details – things like how shares will be created, traded, and settled – are all set. While you can’t buy shares yet, this is a major hurdle cleared. This news has already impacted prediction markets, with the chances of a Solana ETF approval by July 2025 now estimated at 58-60%.
Experts Weigh In
Analysts are generally optimistic. Bloomberg Intelligence’s Eric Balchunas predicts a good chance of approval, even suggesting a potential “alt-coin ETF summer” with Solana leading the charge. However, James Seyffart cautions that the SEC still needs to finalize details with the ETF issuers, just like they did with the Bitcoin ETFs earlier this year.
The SEC’s Role
The SEC recently asked several companies, including VanEck, to update their applications. Many have already done so. While the SEC delayed Franklin Templeton’s application, analysts see this as a normal part of the process and a positive sign that the SEC is actively engaging with the applications. The timeline for approval remains uncertain, with estimates ranging from a few weeks to October. The SEC’s focus is on aspects like staking, custody, and preventing market manipulation.
What’s Next?
The DTCC listing shows the market infrastructure is ready. Now, it’s all up to the SEC. While a quick approval is possible, a delay until later in the year wouldn’t be a surprise either. The key takeaway is that the SEC is actively involved in the process, which is a positive sign for the future of Solana ETFs. At the time of writing, SOL was trading at $145.89.
