Momentum is building fast behind Solana as VanEck’s proposed spot ETF, dubbed VSOL, makes a key move toward regulatory approval. The fund has now been listed under the Depository Trust & Clearing Corporation’s (DTCC) active  category—a significant procedural step that signals growing confidence among institutional players.

Even though the ETF can’t yet begin trading, this latest update has drawn attention from traders, analysts, and investors who believe Solana may soon join Bitcoin and Ethereum in the exclusive club of U.S.-listed spot crypto ETFs.

VanEck’s VSOL Listed on DTCC: A Major Milestone

The DTCC listing essentially means VanEck’s Solana ETF is now eligible for electronic trading and clearing if it gains final approval from the U.S. Securities and Exchange Commission (SEC). While it doesn’t confirm the ETF will go live, it does represent serious momentum in the approval process.

Bloomberg ETF analyst James Seyffart weighed in, stating that he wouldn’t be surprised if approval came within the next month—but also acknowledged that delays could extend until October. Despite the uncertainty, Seyffart emphasized that the SEC’s willingness to engage with ETF applicants is a “good sign.”

This engagement echoes the regulatory evolution that led to the approval of Bitcoin and Ethereum ETFs earlier in 2025, both of which saw large institutional inflows.

91% Approval Odds and Market Confidence Soar

According to prediction market platform Polymarket, traders now see a 91% chance that the spot Solana ETF will be approved in 2025—a sharp increase from just days prior. The sentiment reflects rising optimism that SOL is next in line for Wall Street integration.

The broader argument for a Solana ETF is gaining traction thanks to the network’s high-speed performance, low fees, growing NFT and DeFi activity, and strong developer community. The recent approval of Solana futures on the CME also adds legitimacy, further encouraging ETF speculation.

If approved, VSOL would mark the third major U.S. spot crypto ETF—following Bitcoin and Ethereum—and potentially attract a new wave of institutional capital into the Solana ecosystem.

SOL Price Action Lags Behind the Hype

While optimism is surging around the ETF, Solana’s price has yet to reflect the excitement. At the time of writing, SOL is trading around $147.26, slightly down on the day. Technically, the charts show weakened momentum and a possible continuation of short-term bearish trends.

The Relative Strength Index (RSI) stands near 42—an area suggesting weakened buying strength and approaching oversold conditions. Additionally, the MACD indicator shows a bearish crossover, with the MACD line sitting below the signal line, confirming downward pressure.

These readings point to a disconnect between long-term optimism and near-term market demand.

Short-Term Resistance vs Long-Term Vision

Even with ETF enthusiasm reaching new highs, Solana’s short-term price recovery may face resistance unless overall market sentiment improves. Traders appear hesitant, perhaps waiting on official SEC confirmation before entering new positions.

That said, the long-term vision remains intact. If the ETF is approved, it could dramatically increase SOL’s exposure to institutional investors, diversify capital inflows, and enhance its position in the digital asset hierarchy.

ETF listings often act as catalysts for liquidity and legitimacy in the traditional finance world. For Solana, that could mean everything from increased visibility on trading desks to more integration with financial products across the globe.

What Comes Next?

With the DTCC listing confirmed and odds of SEC approval climbing rapidly, the coming weeks could be critical for Solana. If approval arrives sooner than expected, the market may rapidly reprice SOL’s value to reflect its new institutional status.

However, traders and investors should also be aware of potential delays or regulatory hurdles. Until the SEC issues a formal decision, volatility and skepticism may continue to cloud the price action.

In the meantime, all eyes remain on Washington—and on SOL’s ability to hold support as the ETF buzz builds.