Seven leading ETF issuers including 21Shares, Bitwise, Fidelity, and Grayscale have submitted amended S-1 forms to the U.S. Securities and Exchange Commission (SEC) for spot Solana exchange-traded funds. The updated filings explicitly incorporate staking mechanisms designed to generate yield on underlying SOL token holdings, addressing previously contentious regulatory concerns.
The revisions demonstrate issuers’ strategic alignment with SEC requirements, particularly regarding staking—a feature that delayed Ethereum ETF approvals. This coordinated move suggests significant progress toward potential U.S. regulatory endorsement, though the SEC has not yet approved any spot crypto ETFs beyond Bitcoin and Ethereum.
Solana traded near $147 amid recent market volatility, with analysts noting potential for substantial capital inflows should ETF approvals occur. The regulatory landscape shows evolving collaboration between the SEC and Commodity Futures Trading Commission (CFTC), including dropped enforcement actions against major exchanges like Binance and Coinbase.
While recent SEC delays have extended Solana ETF decision timelines, the amended filings represent a critical step toward legitimizing Solana-based investment products and expanding institutional crypto access.