- VanEck’s Solana ETF (VSOL) hits DTCC list, a key step toward SEC approval.
- Despite ETF momentum and 91% approval odds, SOL’s price shows bearish indicators and weak demand.
Solana [SOL] just took a major leap toward Wall Street legitimacy. VanEck’s proposed Solana ETF (VSOL) has landed on the DTCC list — a key precursor to launch — a sign that regulatory gears are turning.
With approval odds soaring and the SEC opening dialogue, the race for the third U.S. spot crypto ETF is heating up fast.
DTCC listing shows forward momentum for Solana ETF
VanEck’s proposed spot Solana ETF (VSOL) has officially been listed on the Depository Trust & Clearing Corporation (DTCC) under its “active and pre-launch” category.
While the ETF cannot yet be created or redeemed, the listing makes it eligible for electronic trading and clearing; pending a final green light from the U.S. SEC.
Source: DTCC List of ETFs Active and Pre-Launch
Although approval is not guaranteed, the DTCC registration adds momentum to the growing field of ETF issuers. Bloomberg ETF analyst James Seyffart commented on the development, saying,
“I wouldn’t be completely shocked if we see approvals for Solana ETFs in the next month or so. But I also wouldn’t be surprised if we have to wait until the final deadline in October. Timeline unknown. At the end of the day — the SEC is engaging and that’s a good sign.”
The odds are high
Market confidence in a Solana ETF is climbing fast. According to Polymarket, traders now assign a 91% chance that a spot Solana ETF will be approved in 2025; a 17% jump in just days.
Source: Polymarket
While the SEC has already approved Bitcoin and Ethereum spot ETFs, Solana is emerging as the next likely candidate, supported by its robust developer activity, fast transaction speeds, and expanding DeFi ecosystem.
Combined with recent CME futures approvals, the stage is being set for SOL’s mainstream financial debut.
SOL struggles despite ETF momentum
Despite growing optimism around the Solana ETF, SOL’s price action remained under pressure. At press time, SOL traded at $147.26, down 0.24% on the day.
The RSI was near 42, showed weakened momentum while close to oversold territory. Meanwhile, the MACD indicator showed a bearish crossover, with the signal line positioned above the MACD line, confirming downward pressure.
Source: TradingView
While ETF news may be bullish long-term, short-term price recovery could face resistance unless broader buying demand returns.
