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.
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Evgeny 🎩
@chipcr
2/ Risks and Opportunities - Key risks include cryptocurrency market volatility, regulatory oversight, and technological risks associated with the Solana blockchain platform. - Despite these risks, VanEck believes Solana has significant growth potential due to its unique technological features and strong support from developers and investors. Target Audience and Prospects - The VanEck Solana Trust targets institutional and retail investors seeking to diversify their portfolios with cryptocurrency assets. - The trust aims to attract substantial investment due to the growing interest in cryptocurrencies and the popularity of the Solana platform. Regulatory Information - Detailed information about the trust, its structure, and associated risks is available in the filing submitted to the SEC. - The document is accessible on the official SEC website via this [link](https://www.sec.gov/Archives/edgar/data/2028541/000162828024030249/vanecksolanatrusts-1.htm).
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Vitalii
@c0manch3
Great news👍 I think it can be approved by the end of the cycle. November - December 2025
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