Solana (SOL) rose more than 6% since Monday evening (19:00 UTC), bucking the broader market decline, and extended its recovery as investors warmed to news of a major asset manager debuting another investment product related to the token.
The move followed VanEck’s announcement, via a press release, of its new Solana ETF (VSOL), which provides exposure to SOL and its staking rewards. Solana presented as an outlier in Tuesday morning trading, with Bitcoin drifting below $90,000 and other major cryptocurrencies sliding. It’s a small ray of light in a crypto market that’s tanked to its lowest total value since June.
VanEck said it will waive VSOL’s sponsor fee and the staking-service fee for the first $1bn in assets or until 17 Feb 2026. The firm cited Solana’s high-throughput design and growing onchain activity across DeFi, gaming and tokenized assets.
While it’s common for investment product providers to offer lower introductory fees, the promotion may expand institutional access to Solana and support demand for staking-enabled ETF structures. Worldwide, Van Eck has more than $5.2 billion in assets across its digital asset solutions, including ETFs for Bitcoin and Ether that were introduced in 2024.
You must be logged in to post a comment.