The surge of cryptocurrency ETFs has commenced, with VanEck’s Solana ETF launching on Monday. More ETFs are expected to debut in the coming week.

VanEck’s new offering, the VanEck Solana ETF (VSOL), followed the launch of similar products by Bitwise and Grayscale, which together have attracted over $380 million in investment since their release in late October. Like its counterparts, VSOL provides staking yields, allowing investors to earn rewards by locking up Solana (SOL) on its blockchain. To enhance its competitiveness, it has waived its 0.3% management fee until February 17, or until it reaches $1 billion in assets.

In September, following a shift in the Securities and Exchange Commission’s listing standards, asset managers have been rapidly introducing crypto ETFs without the need for each fund’s individual assessment.

Bloomberg ETF analyst Eric Balchunas noted that the Fidelity Solana ETF (FSOL) is set to launch the next day, adding competition to the existing three funds that impose a 0.25% fee.

“Easily the biggest asset manager in this category with BlackRock sitting out,” he mentioned.

Anticipated Dogecoin ETF Debut

Balchunas also indicated that a Dogecoin (DOGE) ETF by Grayscale could be on track for launch on November 24, following a modified regulatory filing that starts a 20-day countdown unless the SEC intervenes.

The Grayscale Dogecoin Trust, transitioning from its previous fund, is expected to trade on the New York Stock Exchange, pending the necessary listing approval.

“We’ll see, it won’t be confirmed until the exchange provides notice, but current SEC guidance appears favorable,” Balchunas added.

If successful, it would mark the first Dogecoin ETF in the US permitted to hold the cryptocurrency directly. Additionally, Bitwise is also poised for a potential spot Dogecoin ETF launch late next week.