On June 13, seven filings for Solana ETFs were submitted to the SEC, generating discussion in the crypto finance world. However, experts do not expect quick approval.
Focus on Staking in Solana ETF Filings
Bloomberg ETF analyst James Seyffart noted that the updated filings from all seven issuers include staking language, which may potentially change the game for ETFs. The list of applicants includes Fidelity Investments, 21Shares, and VanEck. While including staking may attract investors, it also complicates the SEC's review process, likely delaying final decisions.
Lessons from Bitcoin and Ether ETF Approvals
Seyffart emphasized that while spot Bitcoin ETFs launched in January 2024 after a decade of proposals, staking introduces new regulatory unknowns. He stated, 'No such lessons apply to staking.' This will likely mean a longer negotiation process between issuers and the SEC.
Staking Approval Prospects for Solana and Ether
Seyffart suggested that it is possible that Solana and Ether could launch their ETFs with staking enabled simultaneously. However, he added, 'I have no insight into what will happen.' Optimism remains, although the SEC is exercising caution with such innovations.
While the June 13 ETF filings for Solana represent a step towards regulation, experts advise caution regarding approval timelines. The inclusion of staking adds additional challenges that may delay market entry.
