7 Solana ETF candidates filed S-1 applications, but many 'controversies' with the SEC lie ahead

ETF analyst James Seyffart stated that all updated S-1 filings "I believe include language on staking".

Seven Solana ETF candidates submitted S-1 reports to the U.S. Securities and Exchange Commission (SEC) on June 13; however, Bloomberg's ETF analyst James Seyffart doubts that approval will happen as early as next week. "I think there needs to be back-and-forth communication between the SEC and the issuing entities to work out the details, so I doubt that. If anyone remembers the launch of the Bitcoin ETF, there were *MANY* filings submitted in the months leading up to the launch", Seyffart said in a post on Friday. U.S.-based spot Bitcoin ETFs launched in January 2024, more than a decade after Gemini cryptocurrency exchange co-founders Tyler and Cameron Winklevoss submitted the first application for a spot Bitcoin ETF to the SEC in 2013.

"Staking language" has been included in all filings

On June 13, Fidelity Investments submitted its initial S-1 registration report for its Solana ETF product at $147.33, while 21Shares, Franklin Templeton, Grayscale Investments, Bitwise Investments, and Canary Capital submitted amended S-1s.

VanEck — the first U.S. company to file for a spot Solana ETF in June 2024

Seyffart stated, "I believe they all include staking language." While Seyffart agreed with the perspective of a user on X that "lessons learned" from previous approvals could help expedite the process. #Solana⁩