VanEck Solana ETF filing lists one specific risk: Concentrated ownership of SOL

In its first Solana ETF application in the United States, asset management agency VanEck specifically pointed out a specific risk not seen in other ETF applications, namely the concentrated ownership of SOL tokens. According to VanEck's documents, at the end of November last year, the 100 largest wallets containing SOL tokens held about one-third of the SOL in circulation. The document emphasizes: "Due to this concentration of ownership, large sales or distributions by such holders may have an adverse effect on market prices." Since the distribution of SOL tokens is not as widespread as Bitcoin and Ethereum, this concentrated ownership situation may become an obstacle to the approval of VanEck Solana ETF. (dlnews)