Spot Solana ETF Appears On DTCC—When SEC Approval?

VanEck’s proposed spot Solana exchange-traded fund has quietly appeared on the Depository Belief & Clearing Company’s web site beneath the ticker VSOL, putting the product within the clearinghouse’s “lively & pre-launch” roster. “BREAKING: VanEck’s Solana ETF (VSOL) is now listed on DTCC… Whereas not an SEC approval, it’s a preparatory step, mirroring BTC and ETH ETFs,” the analytics account SolanaFloor advised its 109,000 followers on X in a single day.

VanEck’s Solana ETF Hits DTCC Itemizing

The DTCC entry indicators that the fund’s operational plumbing—creation/redemption identifiers, commerce settlement codes and clearing eligibility—has been assigned, regardless that shares can’t but be issued. Derivatives and prediction markets reacted swiftly. On Polymarket, the contract that pays out if any Solana ETF is accepted by 31 July 2025 now costs a 58–60 % likelihood, whereas the full-year contract has surged to 92%.

Regulatory handicappers are nonetheless leaning bullish. Bloomberg Intelligence’s Eric Balchunas wrote that buyers ought to “prepare for a possible alt-coin ETF summer season with Solana doubtless main the best way,” and along with colleague James Seyffart now assigns a 90% chance of eventual approval.

Seyffart tempered near-term euphoria, nevertheless, warning that “there must be a back-and-forth with the SEC and issuers to iron out particulars,” recalling the flurry of paperwork that preceded January 2024’s spot-Bitcoin launches.

That dialogue is already beneath manner. The SEC requested would-be issuers to amend their S-1 registration statements final week; seven managers—together with Constancy, Bitwise, Franklin Templeton, 21Shares, Grayscale and Canary—filed updates on 13 June. European digital-asset home CoinShares adopted yesterday, changing into the eighth entrant within the race.

Macro construction additionally seems friendlier than throughout earlier alt-coin makes an attempt. CME Group launched cash-settled futures in mid-March, including the asset to its regulated derivatives suite.

Whereas the DTCC itemizing doesn’t bind the SEC, it locations VanEck’s fund on the identical procedural observe that preceded January 2024’s Bitcoin and July 2024s Ether approvals. Whether or not that observe results in a July debut—or slips to year-end—now hinges on how shortly employees conclude their evaluate of staking language, custody mechanics and market-manipulation surveillance.

For merchants, the presence of VSOL on DTCC’s screens is greater than beauty: it demonstrates that, at the least on the market-infrastructure facet, the swap has been wired and examined—ready just for a regulatory finger to press “on.”

When SEC Approval?

Notably, the SEC delayed Franklin Templeton’s spot-Solana ETF utility yesterday—a pause that analyst James Seyffart referred to as “anticipated… [because] right now was solely an middleman deadline.” He added that the company’s ongoing dialogue over the up to date S-1s for Solana-staking merchandise is “a really optimistic signal,” even when “timelines for approvals are much less sure.”

Fellow Bloomberg ETF watcher Eric Balchunas concurred, reiterating his 90% base-case odds of eventual approval whereas cautioning that the present “2-to-4-week” horizon is “formidable”: “The ball is within the SEC’s courtroom after the S-1s are re-filed; the dialogue between employees and issuers is a good signal, however the timeline is much less clear.”

Seyffart summed up the temper: “I wouldn’t be shocked if we see approvals within the subsequent month, however I additionally wouldn’t be stunned if we now have to attend till the ultimate deadline in October… On the finish of the day, the SEC is participating—and that’s a very good signal.”

At press time, SOL traded at $145.89.

Featured picture created with DALL.E, chart from TradingView.com

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