🚀 What's happening
On June 13, 2025, seven major managers—including 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital—filed amendments to their Solana ETF applications with the SEC to explicitly include the option for SOL staking, that is, to generate yield directly from the ETF (reuters.com).
💡 Regulatory context and market responses
Following the recent SEC guidance that supports staking—both delegated and individual—these applications take advantage of the new regulatory landscape to highlight the ability to monetize ETF assets.
Analyst James Seyffart (Bloomberg) warns that extensive commentary exchange between the SEC and the issuers is likely, as happened with Bitcoin ETFs, so approval is not imminent, but progress is being made (cointelegraph.com).
According to Blockworks and OnEquity, the SEC requested updates this week and could provide feedback in the next 30 days, opening the door to a possible approval "in July" (mexc.co).
📈 What could it mean for investors?
Yield generation: An ETF that allows staking would offer additional passive yield, clearly differentiating it from other spot funds.
Price boost for SOL: The news already caused an approximate rise of 4%, bringing SOL close to USD 165 (cryptobriefing.com, hub.onequity.com).
Institutional competition: Although BlackRock is not among the initial applicants, its entry is expected so as not to leave that market open to competitors.
🔍 And now what to expect?
Milestone
Detail
📌 Next step
SEC will issue comments in the next 4 weeks
🗓 Possible approval
July 2025 (first scenario) or early Q4
⚠️ Key variables
Definition of staking, in-kind redemption protocols, legal structure of the funds
📢 Conclusion
The move towards Solana ETFs with integrated staking represents a significant advancement for digital assets. If the SEC follows this momentum, we could be looking at the next generation of crypto ETF funds that not only replicate price but also offer yield through network participation.
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