Matthew Sigel, head of digital asset research at VanEck, said on the X platform, We believe that the native token SOL functions similarly to other digital goods, such as Bitcoin and Ethereum. It is used to pay transaction fees and compute services on the blockchain. Like Ethereum on the Ethereum network, SOL can be traded on digital asset platforms or used for peer-to-peer transactions. Matthew Sigel also emphasized that VanEck has just filed for the first Solana ETF in the United States.