Coinspeaker
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VanEck Launches Solana ETF Trading on Cboe BZX Exchange

VanEck launched the VanEck Solana ETF (VSOL) on Nov. 17, 2025, making it the second spot Solana staking exchange-traded product in the US.

  • The ETF trades on Cboe BZX Exchange with a 0.30% sponsor fee waived until Feb. 17, 2026, or until assets reach $1 billion.
  • SOL Strategies waives its 0.28% staking provider fee during the same period.
  • Solana (SOL) gained 3.2% following the launch announcement.

Custody and Infrastructure:

  • Gemini Trust Company is the primary custodian, with additional services from Coinbase Custody Trust Company.
  • State Street Bank and Trust Company handles cash custody and fund administration.
  • Van Eck Associates Corporation provided $10 million in seed funding.
  • SOL Strategies operates the staking infrastructure using its Orangefin validator with ISO 27001 and SOC 2 certifications.

Competitive Positioning:

  • VanEck filed the first Solana ETF application, but Bitwise launched its BSOL product first in October 2025.
  • Bitwise's BSOL accumulated $497 million in assets, capturing approximately 98% of Solana ETF inflows by early November.
  • BSOL charges a 0.20% management fee with net rewards of 7.20% through its Helius validator.
  • BSOL recorded $57 million in day-one trading volume.

Market Context:

  • The SEC provided regulatory clarity for proof-of-stake networks in May 2025.
  • Grayscale added staking capabilities to its Ethereum ETFs and filed to convert its GSOL Trust to an ETF structure.
  • VanEck manages $171.7 billion in total assets, with $5.2 billion in digital asset solutions globally.
  • Previously launched Bitcoin and Ethereum ETFs in 2024.