The Solana ETF market is beginning to develop rapidly, as seen in recent filings from major financial companies. This new wave of interest inspires traders and investors.
Filings for Solana ETF
On June 13, seven firms, including Fidelity, Grayscale, and VanEck, submitted new or updated filings for a Solana ETF with the U.S. Securities and Exchange Commission (SEC). All filings mentioned staking, marking a key point. Fidelity introduced its first S-1 for a Solana ETP, while VanEck, which filed for a spot Solana ETF in June 2024, also amended its proposal to include staking.
Market Impact and Analyst Assessment
The surge in filings has sparked optimism in the market, but ETF analysts caution against premature conclusions. Bloomberg's James Seyffart noted that the approval process will not be quick, drawing parallels to the Bitcoin ETF experience. According to him, the SEC is likely to conduct several rounds of discussions with issuers before reaching a final decision.
Approval Prospects and Staking Features
Experts predict ETF approvals could happen within the next two to four months. Reports indicate that the SEC is actively engaging with issuers by requesting clarifications on aspects of the filings. While the SEC has only approved Bitcoin and Ethereum spot ETFs so far, Solana seems to have a better chance of successful approval due to its trading volume and growing institutional interest.
Thus, the Solana ETF market is actively developing, and participants are hopeful for a positive outcome in the ongoing discussions with the SEC. The influx of applications and regulators' attention create conditions for potential approval in the near future.
