TL;DR
- VanEck selected SOL Strategies to manage the staking of the SOL that will back its ETF.
- SOL Strategies will use its “Orangefin” validator, which it acquired last December.
- The partnership underscores the growing institutional interest in high-performance Solana staking solutions.
Asset management firm VanEck has just announced a key strategic partnership. At the same time, it is preparing the launch of its highly anticipated Solana ETF. At the start of the week, the company confirmed it has selected a Solana-focused treasury firm, SOL Strategies, to provide staking services for the fund’s SOL holdings.
The company’s official announcement indicates that it based its choice on SOL Strategies’ proven track record in validator operations and institutional focus. Kyle DaCruz, director of digital assets product at VanEck, confirmed the information, adding that the staking will be channeled through SOL Strategies’ Orangefin validator, an infrastructure the firm acquired last December.
Toronto-based SOL Strategies currently operates validators with ISO 27001 and SOC 2 certifications, securing over $437 million (CAD$610 million) in staked assets.
A Validation for Institutional Infrastructure
Being selected by VanEck marks a significant achievement for SOL Strategies, which actively seeks to “bridge traditional finance with decentralized infrastructure.” Michael Hubbard, interim CEO of SOL Strategies, stated that this selection “validates our infrastructure capabilities and highlights the institutional interest in compliant, high-performance Solana staking solutions.”
SOL Strategies, which trades as HODL in Canada and STKE on the Nasdaq, rebranded last year (formerly Cypherpunk Holdings) to dedicate itself fully to the Solana ecosystem, and holds 524,000 SOL in its treasury.
The announcement comes at a crucial time for the VanEck Solana ETF, which recently filed its 8-A statement with the U.S. Securities and Exchange Commission (SEC).
Currently, the U.S. market has demonstrated strong demand for similar products. The two Solana ETFs launched by Bitwise (BSOL) and Grayscale (GSOL) have accumulated $382 million in combined inflows since BSOL began trading on October 28, confirming investor appetite for regulated vehicles for SOL exposure.
