The timeline for Solana's spot ETF approval looks optimistic amid increasing institutional investor interest and platform development.
Discussion on Spot ETFs Based on Solana
Since early 2024, following approval of Bitcoin and Ethereum spot ETFs, Solana has increasingly attracted attention as a leading candidate for a similar license in the US. According to Bloomberg, there is a 75% probability of a Solana spot ETF being approved by the end of 2025.
Key Participants in Solana Spot ETF Market
Currently, several major asset managers have filed applications to launch Solana spot ETFs:
1. **VanEck Solana Trust** — first to file in June 2024. 2. **21Shares Core Solana ETF** — followed suit with a similar application also in June 2024. 3. **Bitwise Solana ETF** — initiated filing in November 2024 with adjustment to structure. 4. **Grayscale Solana ETF** — filed in January 2025 to convert an existing trust into a spot ETF. 5. **Canary Solana ETF** — submitted at the end of 2024 to capitalize on growing SOL interest. 6. **Franklin Templeton Solana ETF** — filed in March 2025 for listing on Cboe BZX Exchange. 7. **Fidelity Solana ETF** — filed in late March 2025 for a proposed spot ETF.
Outlook for Solana Spot ETF Approval in 2025
Despite the lack of an official SEC decision, sentiment has notably shifted with the launch of Bitcoin and Ethereum ETFs, making it increasingly difficult for the SEC to reject similar products, especially those supported by robust infrastructure. However, the question of Solana's classification as a security remains unresolved, which could impact decision timelines.
If approved in the second half of 2025, a Solana spot ETF could mark a significant step towards institutional investment access to one of the most vibrant blockchains in the crypto ecosystem.
