Solana (SOL) is attracting renewed institutional attention, with major asset managers like Franklin Templeton, Grayscale, VanEck, and Fidelity updating their Solana ETF filings with the U.S. Securities and Exchange Commission (SEC). Although the token price briefly fell after the news, long-term indicators suggest that this movement could be an important bullish trigger.
Asset managers review Solana ETF filings amid dialogue with the SEC. As of August 1, at least seven asset managers have submitted amended S-1 registration statements for Solana-based ETFs. These updates, which now include staking provisions and clearer custody structures, reflect ongoing discussions with the SEC. Notably, the updated proposal from Grayscale introduces an annual fee of 2.5% in SOL, while the VanEck version includes active staking rewards and dual custody. These moves are seen as part of a coordinated strategy to align with SEC expectations, especially after the Commission recently approved in-kind redemption structures for Bitcoin and Ethereum ETFs. Market observers believe a decision on Solana ETFs may arrive as early as late August or September 2025.
SOL price reacts cautiously, but long-term momentum builds. Surprisingly, the price of Solana fell more than 3% after the ETF filings, closing at $170.24. This suggests that the news may already be priced in or that traders remain cautious amid broader market uncertainty. Technical indicators show bearish momentum, with SOL struggling to stay above key support zones at $170 and $158. A close above $180 could reignite bullish sentiment, while a drop below $158 may signal a deeper correction towards $145 or $130.
What the approval of the Solana ETF could mean for SOL. While short-term volatility persists, the broader implications of the approval of the Solana ETF are substantial. A green light from the SEC could legitimize Solana as a mainstream investment asset, increase market liquidity, and open the door for further institutional adoption. With over $60 billion in SOL staked and a maturing ecosystem, Solana is well-positioned to benefit as regulatory clarity arrives. In the coming weeks, all eyes remain on Washington. But for long-term investors, this may be the calm before a potential breakout.