The Solana ETF
There is a lot of significant news and development around Solana ETFs, and it appears they are on the cusp of approval in the US.
The U.S. Securities and Exchange Commission (SEC) is reportedly accelerating the review process for spot Solana (SOL) exchange-traded funds. They have asked issuers to submit amended S-1 filings by the end of July 2025, significantly pushing up the timeline from the previous statutory deadline of October 10.
If approved, Solana ($SOL ) would become the third cryptocurrency, after Bitcoin ($BTC ) and Ethereum ($ETH ), to have a sanctioned spot ETF in the U.S. market.
While some analysts still anticipate approvals by early fall, the expedited requests from the SEC suggest a strong possibility of approvals well before October. Some reports even hint at a "July 31st deadline" for potential approvals.
Key drivers
Solana's high-performance blockchain and rapidly growing ecosystem have attracted significant institutional interest, making it a prime candidate for an ETF.
Under the current administration, the SEC appears to be adopting a more crypto-friendly approach.
Several prominent asset managers have filed S-1s for spot Solana ETFs, including VanEck, 21Shares, Bitwise, Grayscale, Franklin Templeton, Fidelity, and CoinShares. Some filings include provisions for staking, which would allow the ETFs to earn yield from the Solana network. Notably, the REX-Osprey SOL + Staking ETF (SSK) began trading on Cboe in early July 2025. This ETF provides exposure to Solana and staking rewards through a more indirect and complex approach.
Trump Media & Technology Group has filed for a "Crypto Blue Chip ETF" that would include 8% allocation to Solana, alongside Bitcoin, Ethereum, XRP, and CRO.
The market is eagerly awaiting the SEC's next set of guidelines and further responses from issuers. The consensus is that it's not a matter of if, but when, spot Solana ETFs will be approved. This would further legitimize Solana as an asset class and open doors for broader institutional and retail adoption.
