VanEck has launched its Solana exchange-traded fund (ETF) on Nasdaq, offering a new regulated investment path for institutions. This development, however, comes at a challenging time for the token, which is currently experiencing significant downward price pressure.

A New Regulated Gateway for Institutions

The VanEck Solana ETF, which began trading on November 17, is the second spot product of its kind available in the U.S. market. It follows the launch of Grayscale’s Solana Trust in October, a fund that recorded strong initial inflows and quickly established a benchmark for regulated exposure to the asset.

To attract investors, VanEck is offering competitive features, including a temporary waiver on sponsor fees for an initial portion of assets under management. The fund also plans to stake a portion of its SOL holdings through external validators. Any rewards generated from staking will accrue directly to the fund, potentially boosting early net returns for investors.

Price Under Pressure

Despite the positive news from the institutional sector, Solana’s recent market performance tells a different story. The price of SOL has pulled back sharply, trading at around $136, which marks a drop of approximately 18% over the last week and puts it well below levels seen a month ago.

Analysts are now closely watching a critical nearby support band. A failure to hold this price floor could open the door to further declines, while a decisive recovery above key resistance would signal that the bearish momentum is weakening.

The long-term success of both the VanEck and Grayscale ETFs will likely depend on Solana’s ability to stabilize and reverse its current downtrend. While some initial projections forecast substantial combined inflows into these funds within their first year, sustained investor demand ultimately hinges on the token’s price path. For now, the market remains volatile even as institutional access continues to expand.

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