VanEck Predicts Solana ETFs Will Hit U.S. Market—But Not Before Ethereum

VanEck, one of the most prominent asset managers involved in the cryptocurrency space, has stirred the market again with a bold prediction: Solana (SOL) exchange-traded funds (ETFs) will eventually arrive in the United States—but only after Ethereum ETFs are firmly in place. The statement has sparked new conversations around the evolving crypto ETF landscape and the potential of Solana as a top-tier blockchain asset.

The remarks were made by VanEck’s Head of Digital Assets Research, Matthew Sigel, who emphasized that Solana’s growth trajectory, strong community, and increasing institutional interest position it as a natural candidate for a future ETF. However, Sigel also pointed out that Ethereum needs to fully clear its regulatory path first, especially with spot ETH ETFs yet to officially start trading in the U.S., despite recent approvals.

VanEck filed for a Solana ETF in June, aiming to capitalize on what they see as a rising demand for exposure to Solana-based projects. Solana’s high-speed, low-cost blockchain has gained traction among developers, DeFi platforms, and NFT marketplaces, making it one of the most popular alternatives to Ethereum. VanEck’s move was considered ambitious, given that Solana, unlike Bitcoin and Ethereum, is not yet recognized by U.S. regulators as a “commodity”—a key requirement for ETF approval.

Despite regulatory challenges, Sigel remains confident that Solana has the potential to follow a similar ETF path to Bitcoin and Ethereum. He believes that if Ethereum ETFs begin trading smoothly, it will pave the way for Solana and other altcoins. VanEck’s prediction aligns with a growing sentiment that U.S. financial markets will gradually open up to more diverse crypto-backed investment products.

While the ETF application is still pending, Solana’s price and on-chain activity continue to gain strength, partly fueled by rising investor speculation and its inclusion in major institutional conversations. Analysts see this as a sign of maturing market dynamics, where newer Layer-1 blockchains like Solana are beginning to gain mainstream attention.

Still, some experts remain cautious. The SEC has previously categorized several altcoins as securities, which could hinder ETF approval. Solana’s status in this regard remains ambiguous, though supporters argue its decentralized structure and wide usage should protect it from regulatory backlash.

For now, the crypto community is watching closely. If Ethereum ETFs roll out successfully, and if the SEC signals a friendlier stance towards other Layer-1s, Solana could be next in line for Wall Street adoption. VanEck’s prediction might not just be optimistic—it could be a roadmap for what’s coming next in the crypto investment ecosystem.