Big news coming for Solana and in particular for the requests for Spot ETFs on SOL. After the SEC opened up to the possibility of including staking as additional yield, requests from the main global managers have in fact been pouring in.
Bitwise, VanEck, but also Grayscale, Fidelity, 21Shares, Franklin Templeton and Canary Capital, have filed updated versions of their Solana (SOL) Spot ETF applications, which now also include staking.
What has changed?
In truth, it all started with the SEC, which radically changed its attitude after the departure of Gary Gensler.
With the latest act, the managers have updated their requests via the classic S-1 forms, including explanations on the redemption mechanisms and the rewards deriving from staking.
For those who don’t know the crypto jargon: staking is like making a deposit with interest. SOL tokens are “locked” to allow control of the blockchain and users receive a reward in return.
The SEC Turnaround
Until recently, staking was considered a taboo by the SEC. In fact, Spot Ethereum ETFs did not include it, even though it was not actually requested, precisely to avoid a rejection by the SEC.
But now things have changed radically, the American agency seems to be more open-minded and has not even rejected the requests to the sender, and this is already an important signal.
According to Bloomberg , James Seyffart and Eric Balchunas , two of the most followed analysts, estimate that the chances of approval are 90%, also thanks to the fact that Solana futures are already listed on the CME, the Chicago Mercantile Exchange , one of the largest and most regulated financial markets in the world, known for trading financial derivatives such as futures and options.
A race against time
As anticipated in the opening phase, there will be a race to secure this new Spot ETF, even if usually the SEC tends to give approval at the same time so as not to advantage anyone. On the starting line there are all the most important managers.
The involvement of giants like Franklin Templeton , with more than $1.5 trillion under management, underscores how seriously the traditional financial world is taking Solana.
After the news, the price of SOL increased by 8%. A possible approval with staking of the ETF could make the price soar. On the other hand, a negative news could significantly reduce the price of SOL.
In short, the requests for ETFs on Solana do not represent just a normal continuation of what has already happened for Bitcoin and Ethereum but an epochal event.
Such an ETF would become even more attractive, combining exposure to the cryptocurrency price with staking rewards.
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