VanEck has introduced a new Solana staking ETF as issuers rush to expand altcoin investment products.
The launch arrives during an aggressive push by asset managers to capture inflows after recent regulatory changes.
The new Solana ETF enters a market already shaped by rapid competition and fee cuts. The debut also comes as global digital asset products face heavy investor outflows.
VanEck introduces VSOL with zero fees as competition intensifies
VanEck launched its Solana ETF, VSOL, on Monday. The firm said the product joins staking-enabled Solana ETFs offered by Bitwise and Grayscale.
Those two funds went live in late October and have since collected more than $380 million.
VSOL offers staking rewards to holders of Solana inside the ETF structure, matching the core feature already used by its rivals.
VanEck waived the fund’s 0.3% management fee. The firm said the waiver runs until February 17 or until VSOL reaches $1 billion in assets.
The move signals a push for early market share in a fast-expanding category.
The launch follows the SEC’s September rule change, which streamlined crypto ETF approvals.
The updated process removed case-by-case reviews and opened a path for faster product rollouts.
Bloomberg ETF analyst Eric Balchunas said the lineup is expanding quickly under the new framework.
Fidelity will introduce its Solana ETF, FSOL, on Tuesday. According to Balchunas, Fidelity is the largest asset manager to enter the Solana ETF segment so far.
Most Solana funds charge about 0.25% in management fees. BlackRock remains absent from the Solana ETF race, even as other firms attempt to grow product lines focused on altcoins.
Dogecoin ETFs line up as market faces heavy outflows
Issuers are preparing additional altcoin ETFs as interest broadens beyond Bitcoin and Ethereum.
Grayscale could launch a Dogecoin ETF on November 24. The product is a conversion of the existing Grayscale Dogecoin Trust and would trade on the New York Stock Exchange once the exchange grants final approval.
If launched, it would be the first US ETF to directly hold Dogecoin.
The only DOGE-themed ETF currently available, issued by REX Shares and Osprey Funds in September, holds the token through an offshore subsidiary.
This structure is required due to restrictions under the Investment Company Act of 1940.
Bitwise could also introduce a Dogecoin ETF. A filing update earlier this month triggered a potential late-November approval window. The actions show that issuers aim to capture new inflows as appetite for altcoin exposure grows.
However, the broader digital asset market has seen severe pressure. Digital asset investment products recorded $2 billion in outflows last week.
It marked the heaviest weekly withdrawals since February. Total outflows reached $3.2 billion over three weeks.
The downturn followed sharp declines across major cryptocurrencies and pushed assets under management in digital asset ETPs down 27% from the early-October peak of $264 billion to $191 billion.
The monetary policy uncertainty and aggressive selling from crypto-native whale wallets as the main drivers.
The US accounted for $1.97 billion of the weekly outflows. Switzerland saw $39.9 million leave its products. Hong Kong recorded $12.3 million in withdrawals.