The VanEck Solana Trust (VSOL) has officially been listed by the Depository Trust & Clearing Corporation (DTCC), which is seen as an important step towards its potential approval in the United States.
This is reported by Finway
VSOL Listing at DTCC: Details and Significance
The appearance of the VanEck Solana Trust under the ticker VSOL in the DTCC registry indicates the likelihood of a swift approval for this spot ETF. The DTCC is a primary clearinghouse that manages securities transactions and is overseen by the U.S. Securities and Exchange Commission (SEC).
“The fact that the exchange-traded fund has been listed by the DTCC suggests that it will be approved soon or is in the ‘home stretch.’ For instance, spot Bitcoin ETFs were listed with the organization a month before their launch.”
VanEck applied to launch a spot Solana ETF at the end of June 2024. The product structure does not include a staking option, which distinguishes VSOL from funds from other issuers that have included this feature in their applications. It is expected that once approved, the fund will be listed on the Cboe BZX exchange.
Market, Competition, and SOL Reaction
In June 2025, it was reported that the SEC had reached out to potential Solana ETF issuers requesting updates to their S-1 filings, indicating active progress in the approval of new products. Currently, there are eight companies in the market that have submitted relevant applications, including the recently added CoinShares. Most of them propose staking; however, this could become a hurdle due to the uncertainty of the regulatory framework for such mechanisms.
Despite the news, the price of Solana (SOL) on the Binance exchange showed only a slight increase, with no significant market reaction:
According to Bloomberg Intelligence analyst Eric Balchunas, the summer of 2025 will be a key period for the launch of spot ETFs based on altcoins. Experts estimate the probability of approval for the Solana ETF at around 90%.