Solana ETF on DTCC: SEC Approval Imminent?

VanEck’s spot Solana ETF (VSOL) has appeared on the Depository Trust & Clearing Corporation (DTCC) website, signaling progress toward SEC approval. This listing indicates that the fund’s operational infrastructure is ready, including creation/redemption identifiers and clearing eligibility. While not an approval, it mirrors the process for Bitcoin and Ether ETFs. Derivatives markets reflect a high probability of approval, with Polymarket pricing a 58-60% chance of approval by July 31, 2025, and a 92% chance for the full year. Bloomberg Intelligence analysts express optimism, assigning a 90% likelihood of eventual approval, although they caution that the timeline is uncertain. The SEC’s recent request for amendments to S-1 registration statements from multiple issuers, including VanEck, signifies ongoing dialogue and a positive sign. This process mirrors that of previous Bitcoin and Ether ETF approvals. While the DTCC listing doesn’t guarantee SEC approval, it indicates that the market infrastructure is prepared for launch. The SEC’s recent delay of Franklin Templeton’s application is considered expected, as it’s an intermediary deadline. The ongoing dialogue with the SEC regarding Solana staking products and market manipulation surveillance is viewed positively, although the approval timeline remains unclear. Analysts suggest approval could come within the next month, but a delay until October is also possible. The current market price of SOL is $145.89. The overall sentiment is optimistic, with analysts emphasizing that the SEC’s engagement is a positive indicator. The launch of CME Group’s cash-settled Solana futures in March has also contributed to a more favorable regulatory environment.

(Source: https://bitcoinist.com/spot-solana-etf-on-dtcc-when-sec-approval/)