Key Takeaways:
Seven firms, including Fidelity, Grayscale, and VanEck, filed S-1 statements for spot Solana ETFs on June 13.
All filings reportedly include staking language, adding regulatory complexity.
Bloomberg analyst James Seyffart says SEC approval isn’t expected imminently due to required back-and-forth.
Spot Solana ETF Filings Surge, But Approval Timeline Remains Unclear
On June 13, seven asset managers—including Fidelity, Franklin Templeton, Grayscale, 21Shares, Bitwise, Canary Capital, and VanEck—submitted or amended S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) for proposed spot Solana ETFs.
While this marks a major step toward a potential listing, Bloomberg ETF analyst James Seyffart cautioned against expecting rapid approval.
“There needs to be a back-and-forth with the SEC to iron out details,” Seyffart noted on X. “I doubt approval comes as soon as next week.”
All Solana ETF Filings Include Staking Provisions
Seyffart highlighted that all current Solana ETF filings include staking language, a feature not yet approved by the SEC for crypto ETFs. This may slow the process further, despite lessons learned from Bitcoin and Ether ETF approvals in recent months.
“No such lessons apply to staking,” Seyffart added.
Spot Ether ETFs are also under SEC review to potentially allow staking, but no decision has been finalized.
Simultaneous Approval for ETH and SOL Staking?
Seyffart floated the possibility that spot Solana and Ether ETFs could be approved with staking at the same time, but clarified he had no inside knowledge on timing.
In January, Bloomberg Intelligence estimated a 90% chance that a Solana ETF would be approved in 2025. ETF analyst Eric Balchunas recently suggested a potential "altcoin ETF summer," with Solana possibly leading the wave, according to Cointelegraph.
