Major financial firms including Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck have submitted updated filings for Solana spot ETFs to the U.S. Securities and Exchange Commission (SEC). These amendments signal accelerated progress toward regulatory approval following earlier applications.
Grayscale’s revised proposal confirmed a standard 2.5% management fee payable in SOL tokens. This aligns with established practices in crypto-based fund structures and enhances fee transparency for prospective investors. Industry observers note this figure demonstrates market-rate compensation expectations based on prior ETF precedents.
The amendments primarily center on prospectus refinements and enhanced investor protection standards. Details focus on custody arrangements, risk disclosures, and operational mechanics to meet regulatory requirements. SEC staff reportedly continue collaborating with issuers to finalize terms, according to ETF expert Nate Geraci.
Approval of Solana-based ETFs would enable institutions to gain exposure to SOL tokens without undertaking direct custody responsibilities. Potentially expanding Solana’s investor base significantly, this framework aims to mitigate custody risks while promoting broader blockchain ecosystem adoption. Market analysts view the filings as strengthening Solana’s legitimacy as an investable crypto asset.