VanEck has launched its first Solana-based fund, intensifying competition among crypto ETF providers. The new product, VSOL, began trading on Nasdaq on November 17 and immediately adopted one of the most aggressive capital attraction strategies: zero fee at the initial stage and integrated staking. The launch comes at a time when the market is experiencing a noticeable correction, and the price of SOL remains under pressure.
VanEck bets on staking and zero fees
According to the company, the VanEck Solana ETF (ticker VSOL) offers investors access to SOL and staking yield, which traditionally amounts to about 6–7% per annum. For the period of accumulating the first $1 billion in assets under management (AUM), the fund’s fee is set at 0%, which is significantly lower than the standard terms of competitors.
VSOL becomes one of the first ETFs in the US to simultaneously provide access to the underlying asset and staking yield—a format that is gradually becoming the norm for new products based on networks with a PoS mechanism.
VanEck stated that the launch of the staking ETF reflects the unfolding trend of Solana’s institutionalization. Amid growing regulatory clarity and the readiness of large asset managers to launch products on SOL, VanEck is betting that demand will grow gradually rather than in bursts.
The company notes that after the grace period, the zero fee will be replaced by a fixed rate of 0.30%, which will remain one of the lowest in the crypto ETF market.
Solana price falls despite ETF launch
CoinMarketCap data shows that Solana is trading around $129.80, reflecting a 5.7% drop over the day. Over the past two months, the price of SOL has fallen by almost 48%, as the market goes through a deleveraging phase and some large holders are taking profits.
At the time of the VSOL launch, the price of SOL did not get a boost—on the contrary, the decline continued. Analysts attribute this to the overall market condition and the lack of a short-term effect from ETF products during a correction.
However, institutional flows are gradually forming demand for Solana. Already, four funds and ETPs on SOL are trading on various platforms, and the launch of the Fidelity Solana Fund is expected in the coming days, judging by the recent NYSE Arca certification.
Why the VSOL launch is important for the market
Analysts note that the appearance of a Solana ETF with zero fees could:
- increase demand among brokers and financial advisors
- simplify access for institutional clients who do not work directly with exchanges
- accelerate Solana’s transition from a “retail altcoin” to a category of institutional assets
- improve transparency and operational standards of the product through staking via regulated providers
The presence of several ETFs from major asset managers also creates competition for inflows, which can increase overall SOL liquidity on traditional markets.
What’s next?
Key factors that will determine SOL’s dynamics in the coming weeks:
- ETF inflows. If VSOL and the Fidelity fund receive significant inflows, this could stabilize the price
- Market volatility. The overall state of the crypto market remains weak, limiting growth potential
- Actions of large holders. Recent movements of major treasury funds continue to put pressure on SOL’s price
Despite the decline, institutional interest in Solana is growing faster than in most other assets. The launch of VanEck’s ETF is another step in turning SOL from a high-risk altcoin into a full-fledged infrastructure asset for the capital market.
Read more: Ethena prepares emergency stabilization mechanism for USDe after October’s crash
