Multiple ETF providers submitted revised S-1 filings for Solana spot exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC) on Friday, indicating that approval for these SOL-based funds may be imminent. The revised filings include staking language, allowing the funds to stake held SOL to generate yields, thereby offering higher returns to investors. The submissions involved investment firms such as 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital. Previous reports indicated that the SEC had instructed applicants to update their S-1 filings, suggesting the regulator is more likely to approve these products, with trading expected to begin within two to four months. The SEC maintains an open stance on staking mechanisms, and analysts predict a 90% approval probability for Solana ETFs in 2025. Currently, the SEC has approved spot ETFs for Bitcoin and Ethereum but remains cautious towards other altcoin ETFs. Solana's market capitalization is approximately 77.40 billion USD, with the current price around 146.74 USD.

Seven ETF providers filed amended S-1 forms for Solana exchange-traded funds with the U.S. Securities and Exchange Commission on Friday, suggesting approvals of the spot SOL-based funds may be near.Staking Language Included In The Updated FilingsThe proposed ETFs from investment firms, including 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital, seek to give US investors direct exposure to the price of Solana without them having to hold the altcoin directly.As per the revised filings, would-be issuers submitted updated S-1s, a registration statement required for a spot exchange-traded fund to gain SEC approval for public trading.The filings clarified language that would enable them to stake their held SOL. The staking component would allow issuers to generate yield on the Solana held in their funds, allowing them to deliver higher returns to investors.Friday’s moves come following a TuesdayreportfromBlockworks, which cited sources saying that the SEC had instructed prospective Solana ETF issuers to update their S-1 filings. Bloomberg senior ETF analyst Eric Balchunas said at the time that this signals the agency is more likely than before to approve some of these products, giving a timeline of two to four months for spot SOL ETFs to begin trading.The SEC has also reportedly indicated its openness to staking within the ETF structure.On April 30, Bloomberg ETF analystsupped their estimated oddsof the SEC approving a Solana ETF in 2025 to 90%, placing them at the top of their list. ETFs based on XRP follow closely with approval odds of around 85%.The SEC has greenlighted spot Bitcoin and Ethereum ETFs as well as hybrid Bitcoin-Ethereum funds. However, it has been hesitant to let issuers introduce products that track other altcoins beyond ETH, despite a rash of filings for funds that would track Avalanche, Dogecoin, XRP, and Official Trump. The agency recentlypostponedmaking a decision on several of those investment vehicles and asked for public comment.Some pundits believe Solana has a better chance at securing the regulatory nod under the more leniet SEC leadership ofPaul Atkins, especially followingCME’s listing of SOL futures, which is not a necessary step in the ETF listing process but is usually considered as beneficial.Solana currently ranks sixth on the crypto leaderboard, with a market cap of $77.4 billion. SOL is trading hands at around $146.74 at publication time, up a paltry 0.5% over the last 24 hours, according to crypto data providerCoinGecko.

Multiple institutions submit revised applications for Solana spot ETFs, expectations rise for SEC approval

Multiple institutions submit revised applications for Solana spot ETFs, expectations rise for SEC approval