A pack of heavyweight asset managers—including Franklin Templeton, Galaxy Digital, VanEck, Grayscale, and Fidelity—re-filed or amended S-1 registration statements on Friday for spot Solana exchange-traded funds.
Market watchers say the coordinated move suggests the U.S. Securities and Exchange Commission is inching toward green-lighting the products.
Why it matters:
The SEC reportedly asked would-be issuers to refine language on in-kind redemptions and clarify whether the funds will offer staking rewards. VanEck’s latest filing now explicitly includes staking.
Who’s in the queue:
Fidelity’s submission marks its first formal S-1 for a Solana ETF, while Grayscale disclosed a 2.5 % fee for its proposed fund.
Timing:
Bloomberg’s Eric Balchunas estimates approval could come within two to four months if the agency is satisfied—faster than previous cycles.
Backdrop:
The SEC has already signed off on spot Bitcoin and Ethereum ETFs but has slowed decisions on funds tied to other tokens. Observers note that CME-listed Solana futures—and a potentially friendlier regulatory climate—may improve SOL’s odds.
Next hurdle:
Issuers such as VanEck and 21Shares are lobbying for the SEC’s traditional “first-to-file” rule, which could determine who gets to launch the inaugural Solana ETF.
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If the agency signs off, Solana would become the first major altcoin beyond ETH to secure a U.S. spot ETF, opening the door to broader mainstream exposure for the high-speed blockchain.
Alexander Stefanov
With over 8 years of experience in the cryptocurrency and blockchain industry, Alexander is a seasoned content creator and market analyst dedicated to making digital assets more accessible and understandable. He specializes in breaking down complex crypto trends, analyzing market movements, and producing insightful content aimed at educating both newcomers and seasoned investors. Alexander has built a reputation for delivering timely and accurate analysis, while keeping a close eye on regulatory developments, emerging technologies, and macroeconomic trends that shape the future of digital finance. His work is rooted in a passion for innovation and a firm belief that widespread education is key to accelerating global crypto adoption.
