Fund Manager VanEck is planning on offering a Solana ETF In Germany, seeing much growth from the layer-1 protocol.
Also, The ETF and mutual Fund manager, VanEck wants to enter the crypto space from a different corner.
Furthermore, He seeks to offer a Bitcoin Tracker Fund that will provide qualified US investors direct cryptocurrency exposure.
However, Fund Manager VanEck didn’t leave any comment as regards the issue.
Notably, 21Shares, a lesser-known issuer deployed a Solana Exchange Traded Product (ETP) on the SIX exchange in Switzerland.
VanEck set an application before the SEC to approve the launch of an ETF in the US.
Additionally, this will allow direct bitcoin investment. He also filed for a bitcoin strategy fund that would invest in bitcoin futures contracts.
Meanwhile, Fund Manager VanEck wanted to bring to market a futures-based ether ETF. But, He took back the request from the SEC.
Matthew Sigel, VanEck’s head of digital assets research explains that they faced a higher demand for transaction prices for layer-1 smart contract platform last months.
Throughput that are lower and faster than what the Ethereum network provides, he finished.
Additionally, There are like half a dozen layer-1 smart contract protocols with the track record, size and community engagement to put up a competition with Ethereum. He was saying this in relation to Solana specifically.
“The idea that you could get 50,000 transactions per second, which would rival Nasdaq, opens up the potential to just securitize any number of existing assets, tokenize them and trade them in parallel using the Solana network,”
Conclusively, Solana is currently trading for $158, 2% decline during the weekend and 11% on-week, according to CoinGecko.