VanEck has amended its S-1 filing for a Spot Solana ETF, reducing the management fee to 0.30% and incorporating staking features. This strategic adjustment aims to boost the attractiveness of US-based crypto investment products amid rising institutional interest in Solana. The ETF's SOL holdings will be secured by Gemini Trust Company and Coinbase Custody.
The fee reduction positions VanEck's Solana ETF as the lowest-cost option among US crypto ETFs, capitalizing on Solana's higher staking yields compared to Ethereum. Industry experts anticipate a high likelihood of regulatory approval, which could positively influence market dynamics and Solana's price momentum.
VanEck Cuts Solana ETF Fee to 0.30%, Adds Staking Features
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