VanEck Launches Solana Staking ETF (VSOL), Becomes 3rd SOL ETP

Asset manager VanEck has launched a new Solana ETF that begins trading with a zero-fee structure.

The fund opens in the United States and aims to track Solana’s price while staking a portion of its SOL.

VanEck partnered with SOL Strategies to support staking operations and expand access to Solana investment products.

VanEck Solana ETF Begins Trading With Staking Feature

The VanEck Solana ETF enters the market as a product designed to reflect the price of SOL and staking rewards.

As detailed, the ETF trades under the ticker VSOL on Nasdaq. The trust holds SOL and values its shares using the MarketVector Solana Benchmark Rate. This rate is based on prices from leading trading platforms.

The trust issues shares in baskets of 25,000. Authorized Participants create or redeem these baskets in cash or in-kind transactions.

Cash subscriptions require the delivery of funds equal to the SOL amount in a basket.

The trust then uses a Liquidity Provider to acquire SOL. In-kind subscriptions require the delivery of SOL to the custodian.

These processes aim to support accurate share creation and redemption. VanEck acts as the sponsor of the trust. CSC Delaware Trust Company serves as trustee.

Gemini and Coinbase Custody act as custodians for SOL holdings. The trust intends to issue shares on a continuous basis.

It also registers an indeterminate number of shares with the Securities and Exchange Commission under existing rules.

The sponsor may stake a portion of the trust’s SOL. Staking takes place only if it does not create legal or tax risks for the trust.

As noted, the sponsor may also consider future use of liquid staking tokens. No decision has been made regarding such tokens.

Zero-Fee Structure Aims to Increase Investor Interest

VanEck introduced a zero-fee structure for the new Solana ETF. The sponsor fee remains at 0% until the fund reaches $1 billion in assets or until February 17, 2026.

After that date, the fee increases to 0.30%. VanEck stated that this policy could support early demand for the product.

SOL Strategies acts as the staking service provider. The firm will not charge staking fees during the introductory period.

Staking is carried out through Orangefin. SOL Strategies recently acquired this validator and uses it to support staking operations. The validator manages more than $437 million in assets.

VanEck selected SOL Strategies due to its institutional operations and compliance systems.

The sponsor highlights the validator’s strong record in staking performance.

According to VanEck, this partnership could support a regulated approach to staking within the ETF structure.

Growing Solana ETF Market Sees Continued Inflows

It is worth noting that the Solana ETF market is showing rising interest from investors.

The only two SOL ETPs, Bitwise’s BSOL and Grayscale’s GSOL, have seen $382 million in net inflows since October 28. The two ETFs are yet to sell SOL, and they have maintained a perfect streak of daily net inflows since inception.

Solana and XRP ETFs recorded new capital inflows even while Bitcoin and Ethereum ETFs showed weaker performance.

Recent data shows $12 million in net inflows to Solana ETFs on November 14. Over one week, Solana-focused funds recorded $46 million in new investments.

These inflows suggest ongoing demand for exposure to alternative digital assets beyond Bitcoin and Ethereum.

Meanwhile, VanEck’s new Solana ETF has now entered a competitive but growing sector. The product aims to increase institutional access to the Solana ecosystem.

Essentially, the combination of staking, custodial arrangements, and a zero-fee period positions the ETF as a new option for investors seeking exposure to SOL.