Asset management giants VanEck and Fidelity have submitted amended S-1 filings for spot Solana exchange-traded funds (ETFs), addressing critical regulatory concerns and signaling advanced progress toward possible SEC approval. The updated filings specifically refine approaches to in-kind redemptions and staking mechanisms to align with regulatory requirements.
Fidelity’s filing represents its first formal bid to list a spot Solana ETF. Meanwhile, VanEck’s proposal includes provisions for staking portions of the fund’s holdings, potentially offering investors additional yield generation—a notable differentiation in the evolving ETF landscape.
The amendments suggest a maturing regulatory approach from the SEC, which has historically been cautious toward cryptocurrency ETFs. Regulatory viability is further supported by the listing of Solana futures contracts on the Chicago Mercantile Exchange (CME), which enhances market oversight and liquidity precedents.
Industry analysts view these developments as accelerating the race for the first approved Solana ETF. Successful approvals could drive significant capital inflows and deepen institutional participation in the Solana ecosystem, mirroring patterns previously observed with Bitcoin and Ethereum ETFs.