Regulatory Shifts Fuel Solana ETF Hopes, $400 Target in Sight

Source: [1] Solana ETF Update: Grayscale, Fidelity, Others Files S-1 With … (https://coingape.com/solana-etf-update-grayscale-fidelity-others-files-s-1-with-staking-approval-expected-in-two-weeks/)

[2] Solana ETF Nears Approval as Grayscale, Fidelity File S-1s With … (https://www.the-blockchain.com/2025/09/27/solana-etf-nears-approval-as-grayscale-fidelity-file-s-1s-with-staking-feature/)

[3] Multiple Solana Staking ETFs Could Get SEC Approval Within Two … (https://coincentral.com/multiple-solana-staking-etfs-could-get-sec-approval-within-two-weeks/)

[4] Grayscale, Fidelity Update Solana ETF Filings With Staking (https://coinpaper.com/11308/grayscale-fidelity-others-update-solana-etf-filings-with-staking-as-analysts-eye-400)

[5] Solana ETF Filings Surge as Fidelity, Franklin, and Grayscale Join … (https://coinpedia.org/news/solana-etf-filings-surge-as-fidelity-franklin-and-grayscale-join-the-race/)

[6] Solana Approval: SEC Delays ETF Decision Amid Bullish Bets (https://thecurrencyanalytics.com/altcoins/sec-delays-solana-etf-approvals-despite-high-market-optimism-198740)

[7] Canary Capital Updates SEC Filing for Solana ETF with Staking (https://coinpedia.org/news/canary-capital-updates-sec-filing-for-solana-etf-with-staking/)

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Major asset managers, including Grayscale, Fidelity, Bitwise, VanEck, and others, have submitted updated S-1 filings to the U.S. Securities and Exchange Commission (SEC) for Solana (SOL) exchange-traded funds (ETFs). These filings, which include provisions for staking, signal growing institutional confidence in the blockchain network. By enabling ETFs to earn yield through Solana’s proof-of-stake mechanism, the staking feature is designed to enhance net asset value (NAV) and provide additional returns for investors. Bloomberg analyst James Seyffart noted the coordinated nature of the filings, suggesting increased regulatory engagement.

The staking structure outlined in the filings allows funds to allocate Solana holdings to designated staking accounts, generating rewards in cash or SOL tokens. These rewards are treated as income, directly boosting the fund’s NAV. ETF analyst Nate Geraci highlighted that the inclusion of staking aligns with broader regulatory trends, particularly following the SEC’s recent streamlining of Ethereum ETF approvals. He projected that Solana ETFs could receive regulatory clearance within two weeks, citing improved SEC efficiency in processing digital asset products.

Regulatory shifts have accelerated the momentum for Solana ETFs. In September, the SEC approved Grayscale’s ETH products to transition from case-by-case approvals to a standardized framework, reducing barriers for similar applications. This change has streamlined the approval process for crypto ETFs, with Geraci noting that first approvals for Solana products could arrive in early October. The move reflects a broader effort to harmonize digital asset regulations, as seen in the U.S. and EU frameworks like MiCA.

Institutional demand for Solana-based products has surged, further supporting the filings. Bitwise’s European Solana staking ETP attracted $60 million in inflows during its first week, while the REX-Osprey Solana Staking ETF in the U.S. surpassed $250 million in assets under management within two months. REX-Osprey recently restructured its fund to a regulated investment company, eliminating federal and state taxes at the fund level to enhance tax efficiency. Grayscale’s CoinDesk Crypto 5 ETF, which includes Solana and XRP, also recorded $22 million in trading volume on its debut day.

Market analysts remain optimistic about Solana’s trajectory. Technical indicators suggest the token is consolidating above key support levels, with potential for a rebound toward $250–$300. If ETF approvals materialize by mid-October, some analysts project Solana could reach $400. However, risks such as network outages and regulatory uncertainties persist. The SEC’s cautious approach, including delays in approving certain applications until November 2025, underscores the need for continued monitoring of custody and market integrity protocols.

The regulatory landscape for crypto ETFs is evolving rapidly. The SEC’s recent Joint Statement with the CFTC clarified that regulated exchanges can list spot crypto assets under existing laws, removing a major hurdle for institutional participation. Meanwhile, Europe’s MiCA framework has created a unified regulatory environment, enabling cross-border compliance for crypto products. These developments highlight a global shift toward institutional adoption, with Solana positioned to benefit from its high-performance blockchain infrastructure and growing ecosystem.

With over 96 pending crypto ETF applications, Solana leads the pack in institutional interest. The approval of staking-enabled ETFs could unlock billions in capital, further solidifying Solana’s role in mainstream finance. As the SEC finalizes its review, market participants await clarity on custody standards and investor protections, which will shape the long-term viability of these products. For now, the convergence of regulatory progress and institutional demand signals a pivotal moment for Solana’s integration into traditional financial markets.