Evgeny 🎩
@chipcr
VanEck Files for Solana Trust I've summarised the lengthy SEC application, so you don't have to. 1/ Overview - VanEck, a prominent investment manager, has filed with the SEC to establish the VanEck Solana Trust. - The trust aims to offer investors exposure to the cryptocurrency Solana (SOL) through traditional investment vehicles. - The trust will allow investors to purchase shares, avoiding the complexities and risks associated with direct cryptocurrency ownership. Structure and Management - VanEck will act as the sponsor and manage the trust's assets. - The Bank of New York Mellon will serve as the administrator and custodian. - As of June 24, 2024, the trust is awaiting SEC approval to commence operations. - No part of SOL can be used for staking in any form.
1 reply
2 recasts
4 reactions
Vitalii
@c0manch3
Great news👍 I think it can be approved by the end of the cycle. November - December 2025
0 reply
0 recast
0 reaction
Evgeny 🎩
@chipcr
Deadline for this application is at mid-March 2025
0 reply
0 recast
1 reaction
