Cryptocurrencies
Solana Surges After VanEck Files for Fund Based on the Token
- VanEck says Solana can be considered commodity like Bitcoin
- Bitcoin ETFs see big year with billions of dollars in inflows
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Solana staged its biggest rally in more than a month after VanEck, an exchange-traded-fund issuer, submitted a filing for a product based on the cryptocurrency.
The token rose as much as 11%, the highest since late May, following paperwork submitted to the Securities and Exchange Commission on Thursday. VanEck is looking to launch the VanEck Solana Trust, which would hold the token directly, the filing said. A ticker symbol wasn’t yet listed, nor were any fees that would be tied to the fund.