The flood of crypto ETFs has begun, with VanEck’s Solana ETF launching on Monday, and many more ETFs expected to go live over the next week.
VanEck has launched the US’s third exchange-traded fund (ETF) featuring Solana staking, as more altcoin-tied funds are set to enter the market soon.
The VanEck Solana ETF (VSOL) launched on Monday, joining similar funds from Bitwise and Grayscale that debuted late in October and have jointly seen over $380 million in inflows.
Like Bitwise and Grayscale’s ETFs, VSOL offers staking yields, where Solana (SOL) is locked up on the blockchain to earn rewards. It has also waived its 0.3% fee until Feb. 17 or until it reaches $1 billion in assets in a bid to compete.