VanEck Launches Solana Spot ETF On Nasdaq, Waives Fees For First $1 Billion AUM – STKE To Manage Staking
Synopsis
The ETF’s debut did not manage to lift Solana’s price amid broader weakness in the cryptocurrency market.
- VanEck launched its VanEck Solana ETF (VSOL) on Monday, announcing Solana Strategies as its partner for staking.
- VanEck is waiving sponsor fees on the first $1 billion in assets under management until Feb. 17, 2026.
- Solana ETFs have posted 14 consecutive days of net investor support, despite outflows from Bitcoin and Ethereum ETFs.
VanEck announced on Monday the debut of its Solana (SOL) spot ETF, the VanEck Solana ETF (VSOL), on the Nasdaq. Solana Strategies (STKE) will manage staking operations for the ETF through its Orangefin validator.
STKE’s stock fell more than 3% in morning trading, with retail sentiment on Stocktwits trending in ‘bearish’ territory over the past day. Meanwhile, Solana’s price edged 1.1% lower in the last 24 hours amid weakness in the broader cryptocurrency market. Retail sentiment around the altcoin was also in ‘bearish’ territory.
Solana ETFs Show Strength
Despite the broader crypto market sell-off, Solana-based ETFs have shown resilience, as per data from SoSoValue. Bitcoin (BTC) ETFs experienced $492 million in outflows on Friday, marking the third consecutive day of withdrawals, while Ethereum (ETH) ETFs saw $177 million in outflows.
In comparison, Solana ETFs have recorded 14 consecutive days of net investor support, including $12 million in inflows last Friday.
Fee Waivers Aim To Encourage Adoption
Given the precarious situation of the cryptocurrency market, VanEck said it was waiving sponsor fees for the first $1 billion in assets under management until February 17, next year, which is likely to invite more investor interest. The Fear and Greed Index was in ‘extreme fear’ territory on Monday.
Bitwise’s Solana ETF (BSOL) currently leads the market with $357 million cumulative net inflow, followed by Grayscale’s Solana ETF (GSOL), which has seen a little over $23 million in inflows since launch.
On Stocktwits, retail sentiment around BSOL trended in ‘bullish’ territory over the past day, while retail sentiment around GSOL improved to ‘neutral’ from the ‘bearish’ zone. Both saw ‘high’ levels of retail chatter.
Read also: Bitcoin Price Struggles While Crypto Liquidations Top $500 Million – Analyst Flags Retail Pressure
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