Background: The Depository Trust & Clearing Corporation (DTCC) recently included VanEck's proposed spot Solana (SOL) exchange-traded fund (ETF) on its list of "active and pre-launch" funds, indicating that the U.S. Securities and Exchange Commission (SEC) may soon approve the fund.

Main Content: DTCC's list includes active and pre-launch ETFs, with the latter unable to be processed by DTCC before regulatory approval. VanEck's spot SOL ETF is listed under the ticker VSOL but is not yet available for creation or redemption. Previously, DTCC had added two Solana futures ETFs (SOLZ and SOLT) to the list, both of which are redeemable. As an SEC-registered securities clearing agency, DTCC is gradually expanding its influence in the crypto sector, including launching a tokenized collateral platform and planning to issue stablecoins. The SEC has approved spot Bitcoin and Ethereum ETFs and is considering other crypto asset funds, including Avalanche and XRP. Experts believe that given the Chicago Mercantile Exchange (CME) has listed Solana as a futures product, combined with Solana network's rapid growth and an active lobbying team, the SEC is likely inclined to approve the spot Solana ETF. Recently, the SEC requested potential SOL ETF issuers to update their S-1 filings, which are mandatory approvals before the fund can go live.

Potential Impact: If approved, VanEck's spot SOL ETF will provide investors with a new channel for crypto asset investment and promote the development of the Solana ecosystem. Actions by DTCC and the SEC demonstrate the increasing acceptance of crypto assets by traditional financial institutions.

VanEck’s proposed spot Solana exchange-traded fund has been listed on a page maintained by the Depository Trust and Clearing Corporation (DTCC), an indication that the U.S. Securities and Exchange Commission may soon approve the fund.The DTCC’s list includes both active and prelaunch ETFs, the latter of which cannot be processed at the DTCC until they receive regulatory approval. The SEC has yet to approve a spot SOL ETF, though Bloomberg analysts think this could happen within months.The fund, which the DTCC notes cannot be created or redeemed, is listed under the ticker VSOL. Earlier this year, the DTCC added two proposed Solana futures ETFs to this list, Volatility Shares Solana ETF (SOLZ) and Volatility Shares 2x Solana ETF (SOLT), which remain on the list as "redeemable" funds.DTCC is an SEC-registered securities clearing corporation and a cornerstone of the traditional financial system. The organization has recently been expanding its presence in the crypto space, including the launch of a tokenized collateral platform.It is also reportedly planning to launch a stablecoin.The SEC has approved spot BTC and ETH exchange-traded products. It has been considering proposals to list funds that would track a variety of alternative crypto assets, including Avalanche and XRP. Some experts view the agency as likely to favor Solana given that the CME has listed it as a futures product, as well as the network’s meteoric growth and committed group of lobbyists. Recently, the SEC requested that prospective SOL ETF issuers update their S-1 filings, a document that must be approved before any fund can go live.

DTCC Includes VanEck's Proposed Spot Solana ETF in Active and Pre-Launch Fund Lists, SEC May Approve