VanEck has officially submitted its preliminary prospectus for a Solana-based ETF, becoming the seventh participant in this growing initiative. This development follows a surge of activity from major financial institutions.
Seven Filers Target Solana
In addition to VanEck, the full list of issuers that have now submitted or updated their filings includes: * Fidelity * 21Shares * Franklin Templeton * Grayscale * Bitwise * Canary * VanEck These asset managers have all filed S-1 or S-1/A forms, a critical step toward SEC approval of Solana ETFs. Notably, most filings include provisions for staking, which would set a precedent for yield-generating ETF structures in the crypto markets.
SEC's New Crypto-Friendly Stance
The recent momentum surrounding Solana ETF filings coincides with a broader regulatory shift under the SEC’s new leadership, which has taken a more crypto-friendly stance in recent weeks. While spot Bitcoin and Ethereum ETFs have already been approved, no altcoin ETF has yet received the green light from the Commission. The current wave of Solana filings suggests that issuers are anticipating changes in this area.
What Comes Next?
While none of the Solana ETFs have been approved yet, the surge in filings—especially from heavyweight institutions like Fidelity, Grayscale, and now VanEck—marks a pivotal moment for Solana’s adoption on Wall Street. All eyes will now turn to the SEC for its response. With multiple issuers now in the running and a more open regulatory climate, the first spot Solana ETF may not be far off.
VanEck's filing rounds out a series of submissions from major players in the market, signaling potential changes for Solana-based ETFs and its integration into traditional financial structures.
