A first for Solana (SOL): Destination Germany!

US-based VanEck, one of the world’s highest-issuing ETFs, is preparing to take a very exciting step. According to the latest reported news VanEck, specifically, it has been rolled up for a Solana (SOL) ETF within Germany. blockworks According to information provided by Solana, which has gained incredible popularity in recent times, it has also caught the attention of institutional investors and VanEck will try to take advantage of it.

VanEck comes with Solana ETF

In fact, 21Shares, a lesser-known company than VanEck, launched a Solana-based ETP in Switzerland in June, with the step taken. Although VanEck currently has a Bitcoin ETF application in the US and is awaiting the SEC’s response, it seems much easier to get ETF or ETP approval in Europe. Although there is no clear statement from VanEck at the moment, the information conveyed is that the Solana ETF will be announced in the coming months.

Solana, which is a competitor to Ethereum and offers support for up to 50,000 transactions per second, recently broke a record with the NFT frenzy and even surpassed $ 200. Solana is known to attract the attention of institutional investors as well as individual investors, And it wouldn’t be surprising if VanEck took that step. Solana, which has seen a sharp decline in the past week, may rebound with the support of institutional investors and test above $ 200.

* Since ETFs are the same as that country’s stock or securities rules, the government indirectly approves a crypto currency that is actually accepted as an ETF. This paves the way for institutional investors to buy and sell cryptocurrencies.

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