Seven asset managers have submitted filings for exchange-traded funds (ETFs) based on Solana, indicating a growing interest in alternative coins. However, experts warn of potential delays in the approval of these filings.
Solana ETF Filings
On June 13, seven asset managers including Fidelity Investments, 21Shares, Franklin Templeton, Grayscale, Bitwise, Canary Capital, and VanEck submitted applications for Solana ETFs to the U.S. Securities and Exchange Commission (SEC). This comes amid increasing interest in alternative coin ETFs.
Staking Issues in the Filings
The filings from major players include references to staking, which has become a key area of regulatory focus. Fidelity submitted a new S-1 form, while others amended earlier filings. Bloomberg analyst James Seyffart confirmed that all filings include staking language. This remains an unresolved issue, as there are unclear regulatory guidelines around it.
Approval Forecasts for ETFs
Seyffart speculated that both Solana and Ether ETFs could receive staking approvals simultaneously. Expectations for Solana ETF approval in 2025 have increased to 90%, according to Bloomberg Intelligence. In January, Consensys founder Joe Lubin expressed optimism that staking features for Ether ETFs could be authorized soon.
Despite the growing applications for Solana ETFs and the excited forecasts, actual approval from the SEC may take more time. As the issue of staking remains central, the future developments will depend on regulatory decisions.
