SEC's New Rules Fast-Track Solana ETF Approvals

Fidelity, Grayscale, Bitwise, and other major asset managers have submitted revised S-1 filings for Solana (SOL) spot exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC), signaling intensified efforts to secure regulatory approval. The amendments, filed as early as August 29, 2025, reflect ongoing dialogue between issuers and the SEC, with analysts estimating a 90% probability of approval for most applications by mid-October 2025Solana ETFs Near SEC Approval After New Updates - BeInCrypto^[1]. These updates align with the SEC’s recent adoption of “generic listing standards,” which streamline the approval process for commodity-based ETFs, including those tied to cryptocurrencies. This shift reduces the timeline for approvals from 240 days to 75 days in straightforward cases, enabling faster market entry for Solana ETFs.

The amendments highlight structural innovations, such as Grayscale’s proposal to charge a 2.5% management fee in SOL tokens rather than traditional USD-based feesSolana ETF Race Heats Up as Major Firms Amend S-1 Filings^[2]. CoinShares has also submitted a Solana Staking ETF application, allowing investors to earn passive income via staking rewards—a feature that remains under regulatory scrutinySolana ETF Race Heats Up as Major Firms Amend S-1 Filings^[2]. Analysts like Bloomberg’s James Seyffart note that such amendments demonstrate issuers’ adaptability to the SEC’s evolving expectations, particularly regarding custody, in-kind transfers, and liquidity mechanismsFinal Spot XRP And Solana ETF Amendments Expected This …^[3]. The rule changes also open the door for altcoins like Solana to gain institutional legitimacy, with Galaxy Digital Research identifying Solana as a leading candidate for first-wave approvals under the new frameworkFinal Spot XRP And Solana ETF Amendments Expected This …^[3].

Market forecasts underscore the potential scale of demand for Solana ETFs. Bloomberg ETF analyst James Seyffart estimates that these products could attract over $8 billion in inflows once approved, driven by Solana’s growing adoption in decentralized finance (DeFi) and institutional-grade infrastructureSolana ETFs Near SEC Approval After New Updates - BeInCrypto^[1]. Early signs of investor appetite are evident in the REXShares Solana Staking ETF, which has already amassed over $200 million in assets under management since its July launchSolana ETFs Near SEC Approval After New Updates - BeInCrypto^[1]. The fund’s restructuring as a registered investment company aims to mitigate tax inefficiencies, enhancing its competitiveness alongside forthcoming spot ETFsSolana ETFs Near SEC Approval After New Updates - BeInCrypto^[1].

The regulatory landscape has shifted significantly under the Trump administration, which has prioritized crypto-friendly policies. The SEC’s decision to drop its case against Coinbase “in principle” sets a precedent for resolving legal barriers to ETF approvalsFull List of Solana ETFs Awaiting SEC Approval: …^[5]. Additionally, the new generic listing standards eliminate the need for case-by-case adjudications, allowing exchanges like NYSE Arca, Nasdaq, and Cboe BZX to list commodity-based ETFs meeting predefined criteria. This framework is expected to catalyze a wave of approvals for Solana and other altcoin ETFs, with issuers such as Franklin Templeton and Bitwise refining their filings to align with the updated rules.

Staking features, however, remain a regulatory gray area. While CoinShares’ proposed Solana Staking ETF could offer unique yield-generating opportunities, the SEC has yet to clarify its stance on liquid staking mechanismsSolana ETF Race Heats Up as Major Firms Amend S-1 Filings^[2]. Advocacy groups, including Jito Labs and the Solana Policy Institute, have urged regulators to permit staking in exchange-traded products (ETPs) to maintain token liquidity while securing the networkSolana ETF Race Heats Up as Major Firms Amend S-1 Filings^[2]. This debate underscores the broader tension between innovation and compliance in the crypto ETF space. Meanwhile, the absence of U.S.-listed Solana futures—a typical prerequisite for spot ETFs—poses a hurdle, though the SEC’s recent rule changes may override this requirement for qualifying productsFull List of Solana ETFs Awaiting SEC Approval: …^[5].

The potential approval of Solana ETFs could reshape the digital asset market, accelerating institutional adoption and legitimizing altcoins as core components of diversified portfolios. With over 16 Solana ETF applications pending, the October 2025 deadline for final SEC decisions marks a pivotal inflection point. If approved, these products would mirror the success of Bitcoin and Ethereum ETFs, which have drawn billions in inflows since their January 2024 launch. The market’s response to these developments remains cautiously optimistic, with Polymarket data showing a 99% probability of approval for a spot Solana ETF in 2025Solana ETF Race Heats Up as Major Firms Amend S-1 Filings^[2]. As asset managers refine their strategies and regulators finalize their review, the crypto ETF landscape is poised for a transformative expansion.