Coordinated S-1 Filings Suggest Solana ETF Approval Is Moving Forward

Key Points

1. Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck submitted amended S-1 filings for Solana-based spot ETFs, showing ongoing regulatory engagement.

2. Grayscale's updated proposal included a 2.5% fund fee to be paid in SOL, reflecting refinements in prospectus language.

3. CoinShares registered a Solana Staking ETF entity in Delaware, aiming to offer SOL exposure with staking rewards.

4. The SEC is reviewing multiple spot ETF proposals, including those for XRP and DOGE, alongside Solana.

5. SEC Chair Paul Atkins introduced 'Project Crypto,' a new initiative to reassess crypto asset classification, signaling a potential shift in regulatory stance.