Global investment and mutual funds management firm VanEck has filed for a Solana ($SOL) ETF in Germany. After being backed by Sino Global Capital and Alameda Research, this indicates an increasing institutional interest in Solana.
Solana has had an incredible year, with prices up more than 13,000 percent year to date. The digital token price reached an all-time high of $214.36 on September 8th, 2021, up more than 13,200 percent from its January 1st price of $1.61.
VanEck provides investors with forward, intelligently designed investment strategies that target a certain market and seek to profit from the “Solana Summer” mania.
Solana was chosen, according to VanEck, because of its scalability solution, which is among the best among Layer-1 protocols on the market. VanEck’s head of digital assets research, Matthew Sigel, stated,
“The idea that you could get 50,000 transactions per second, which would rival Nasdaq, opens up the potential to just securitize any number of existing assets, tokenize them and trade them in parallel using the Solana network,”
The adoption of blockchain network concepts and services has been a big reason in the increase in demand for Solana services, so it’s no wonder that VanEck is aiming to capitalize in by offering the digital asset to its investors.