VanEck and 21Shares Lead Solana ETF Filings Amid Regulatory Uncertainty

New Solana ETF applications in the US and Canada highlight differing regulatory landscapes and potential market impacts.

VanEck and 21Shares have filed for Solana spot ETFs in the US, marking a significant move in the crypto investment space.
Canada's 3iQ has also proposed a Solana exchange-traded product, expected to trade on the Toronto Stock Exchange if approved.
The US filings face potential hurdles due to the SEC's classification of Solana as an unregistered security and the lack of a regulated futures market.
Analysts suggest that regulatory changes, possibly influenced by the upcoming US presidential election, could impact the approval process.
The filings reflect growing institutional interest in Solana and the broader acceptance of cryptocurrency-based financial products.