CoinShares has officially submitted a registration statement to the U.S. Securities and Exchange Commission (SEC) to launch a Solana (SOL) exchange-traded fund (ETF). This move comes just days after other asset managers like Bitwise, Canary Capital, Grayscale, and Franklin Templeton amended their S-1 filings to reflect their interest in Solana-based ETFs.
🔹 The filing shows CoinShares’ intent to provide institutional investors exposure to SOL through a publicly traded fund.
🔹 A 19b-4 form is expected to follow soon, initiating the formal SEC approval process for listing the ETF on a U.S. exchange.
CoinShares is now the eighth firm to file for a Solana ETF. Invesco could become the ninth, having recently registered the “Invesco Galaxy Solana ETF” in the state of Delaware.
🔍 Bloomberg analyst James Seyffart noted on X that the SEC has asked issuers to update their S-1 forms, a sign that the approval of Solana ETFs could be on the horizon, potentially as early as next month. Seyffart and colleague Eric Balchunas believe the SEC may also act soon in response to regulatory pressure from Rex-Osprey, which is exploring legal avenues to launch Solana ETF products ahead of competitors.
🤔 In a separate comment, Balchunas speculated whether BlackRock, led by Larry Fink, might enter the race for a Solana ETF. While there's no confirmation, he noted that things could change quickly, depending on the firm's strategic direction.
