From Investing.com: 2024-06-27 11:14:00

VanEck has applied to issue the first SOL ETF in the USA and plans to list it on the Cboe BZX Exchange. Despite SEC labeling Solana as a security, VanEck believes it is a commodity. The market responded positively, with Solana rising nearly 10% to $150. Bitcoin and Ethereum also saw modest gains.

Other altcoins, including Solana, are considered securities by the SEC. VanEck’s application for a Solana ETF faces obstacles due to this classification. Despite this, the market remains optimistic, with Solana’s value rising and Bitcoin and Ethereum seeing moderate gains.

While Solana’s value increased by nearly 10%, Bitcoin is up by 1.5% and Ethereum is up by 2.5%. Among the top 100 cryptocurrencies, some saw value increases exceeding 10%, while others, like AI tokens and , experienced declines exceeding 10%.

Read more at Investing.com: VanEck has applied for a Solana ETF in the U.S. By Investing.com