Asset manager CoinShares has formally submitted an application to the U.S. Securities and Exchange Commission (SEC) for a spot Solana (SOL) exchange-traded fund (ETF). The filing, made via a Form S-1 registration statement, places CoinShares among major financial institutions like Fidelity and Grayscale seeking to offer regulated exposure to Solana.
The proposed ETF will leverage institutional-grade custody solutions provided by Coinbase Custody and BitGo Trust, underscoring a commitment to security and regulatory compliance. This move reflects growing institutional interest in Solana, bolstered by the network’s significant growth.
Solana’s ecosystem strength is highlighted by its Total Value Locked (TVL) recently surpassing $8.7 billion, indicating robust investor confidence and active usage within its decentralized finance (DeFi) protocols. Industry analysts view the filing as a significant vote of confidence in Solana’s underlying technology and market position.
Market observers estimate a high probability, ranging between 70% and 90%, of SEC approval for Solana spot ETFs. This optimism stems from perceived increased regulatory openness compared to earlier Bitcoin and Ethereum ETF applications. If approved, the CoinShares ETF would broaden access to SOL tokens for traditional investors.
The prospectus also suggests the potential inclusion of staking rewards, which could enhance the investment appeal by offering yield and further drive institutional adoption of the Solana network.