VanEck’s proposed spot Solana ETF, ticker VSOL, has been registered with the DTCC in its “active and pre‑launch” section, marking a critical technical step toward eventual trading, though formal SEC approval is still pending.
DTCC Listing Confirms Readiness, Not SEC Approval
The listing shows that VanEck’s Solana ETF has secured a CUSIP and is set up to clear and trade on the infrastructure. However, the fund cannot begin trading until the SEC declares the S‑1 effective.
Bloomberg ETF analyst James Seyffart noted that DTCC listings typically appear shortly before approval, though they are not confirmations. Seyffart also emphasized that ETF approvals generally require months of SEC-issuer dialogue.
According to The Block, this mirrors the timeline followed by spot Bitcoin ETFs, which also appeared on DTCC shortly before launch. Meanwhile, the SEC has asked ETF issuers to revise their filings to include details on staking and in-kind redemptions, which analysts see as a positive sign of engagement.
ETF Approval Odds and Market Outlook for SOL
Prediction markets like Polymarket place a 91% chance on spot Solana ETF approval in 2025, matching Bloomberg’s 90% estimate, which is viewed as a broader move by US regulators toward altcoin-based ETFs.
VanEck, along with Bitwise, Franklin Templeton, and 21Shares, is competing to launch the first U.S.-listed Solana ETF. If approved, VSOL would offer brokerage-based exposure to SOL without requiring crypto wallets.
The listing could drive institutional inflows and strengthen Solana’s position as a credible layer-1 asset. SOL’s price has held steady, as investors await the SEC’s decision.
VanEck’s Solana ETF being listed on the DTCC website signals a major step forward, showing that logistical and infrastructure work is complete. Though not yet approved, this move places VSOL on the launchpad—awaiting the SEC’s final call. If approval follows, it could mark a new era for altcoin investing and bring Solana deeper into the mainstream.
