Solana ETFs Near Approval as Major Firms Amend Filings for Staking

Solana's latest price was $203.48, down 0.588% in the last 24 hours. Major asset managers have amended Solana ETF prospectuses to include staking, enabling funds to earn on-chain rewards and potentially boost NAV. This move is significant as it allows ETFs to delegate Solana tokens on the network’s proof-of-stake system to earn rewards, which could improve net asset value for shareholders. The amended filings were submitted by Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital. Each prospectus includes dedicated language on staking accounts and operational mechanics for receiving rewards.

Funds participating in staking may receive rewards in Solana tokens or cash, which would be recorded as income. This approach allows ETFs to build additional returns beyond price exposure, potentially enhancing NAV for shareholders. The SEC recently updated listing standards for digital asset products, streamlining approvals and reducing the need for individual case-by-case rulings. These changes could allow staking-enabled Solana ETFs to launch more quickly under a standardized review process, with market observers citing mid-October as a possible timeframe for approvals.

Operationally, funds must specify staking service providers, custody arrangements, and reward distribution policies in prospectuses. Tax treatment varies by structure; for example, one U.S. fund converted from a C-Corporation to a regulated investment company to address fund-level taxation and improve investor tax efficiency. Institutional demand has accelerated amid product innovation and clearer regulatory pathways. In Europe, Bitwise reported significant inflows to its Solana stake ETP. In the U.S., the REX-Osprey Solana Staking ETF recorded large daily net inflows and has surpassed $250 million in assets under management within two months.

Multiple applications for Solana staking exchange-traded funds (ETFs) are poised to secure the regulatory nod from the U.S. Securities and Exchange Commission (SEC) in the coming weeks. In a recent post on the X social media platform, Nate Geraci, the president of NovaDius Wealth Management, pointed out that on Friday, asset managers, including Franklin Templeton, Grayscale Investments, VanEck, Canary Capital, Bitwise, and Fidelity, all submitted revised S-1 registration statements for their spot SOL ETFs to the SEC to clarify details around their staking activity. Fidelity, which manages the second-largest spot Bitcoin exchange-traded fund by assets under management, will stake a portion of its SOL holdings to generate yield, according to its updated filing.

According to Geraci, this flurry of SOL applications, which include a staking component, is likely to receive US approval by mid-October. The ETF analyst further suggested that the inclusion of staking in the SOL filings “bodes well for spot ETH staking.” Notably, BlackRock, which is the undisputed leader of the U.S. spot Bitcoin and Ethereum ETFs, has not yet submitted paperwork to list its own spot SOL fund. REX Shares and Osprey launched the first-ever Solana staking ETF on the Cboe BZX Exchange in July after securing automatic approval under the Investment Company Act of 1940. The SOL fund attracted $12 million worth of investments in its Wall Street debut and currently boasts assets under management of around $301 million, signaling considerable demand for Solana ETFs.

Additionally, Hashdex recently added Solana, Cardano, and Ripple’s XRP to its Hashdex Nasdaq Crypto Index US ETF, alongside the Bitcoin (BTC) and Ethereum (ETH) it already held. The regulator also greenlighted a similar multi-crypto fund from Grayscale, giving investors exposure to several assets, including SOL. With the US SEC approval almost certain, SOL’s path to the coveted $300 milestone heavily relies on capturing significant ETF inflows and maintaining steady accumulation from Solana treasury firms.

Solana spot ETFs are expected to launch within weeks after a series of amended filings by major issuers, as the SEC's approval decision window approaches in October 2025. The anticipated ETFs could significantly impact institutional investments and Solana's market standing, reflected in recent trading volume and price movements around the digital asset. Analysts indicate that Solana spot ETFs could be imminent, as major issuers submit amended filings and regulatory updates suggest impending approval by mid-October 2025. The event could significantly influence Solana's market position and institutional inflows, with anticipation evident across social and prediction platforms.

The Solana spot ETFs are nearing potential approval as major firms like Franklin Templeton and Fidelity amended their filings. The SEC is reviewing these adjustments in alignment with new standards. Involved parties include Grayscale and VanEck, who have taken actions under shifting SEC regulatory frameworks. Amendments suggest a strategic push for early ETF approval. A Solana ETF approval could lead to increased institutional investment, potentially raising Solana’s market adoption. Industry experts are closely watching for SEC decisions. Financial and social impacts are anticipated, including increased liquidity for Solana and potential shifts in crypto markets. Analysts note significant institutional interest as decisions loom.

Past ETF approvals, like Bitcoin ETFs, led to large inflows and price shifts, serving as benchmarks for current SEC assessments regarding Solana. Potential outcomes could include increased market valuation for Solana, driven by historical trends of asset inflows post-ETF approval. Experts analyze data for expected market adjustments. Franklin, Fidelity, and others update Solana ETF filings with staking features, signaling institutional demand, SEC progress, and potential approvals. A fresh wave of Solana ETF amendments has entered the spotlight. Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary filed updated S-1 forms. These amendments include staking provisions, which open up funds for yielding its proof-of-stake mechanism of Solana. ETF Store CEO Nate Geraci said it was confirmed that filings came in and the approvals could come in within two weeks. The revisions point to increasing institutional interest in Solana as well as a general shift to yield-generating digital asset products.

Each filing had staking structures installed to catch additional returns. Funds plan to dump Solana holdings into staking accounts. Rewards would come in the form of either cash or SOL tokens, which is indicative of blockchain-native income streams. This design reproduces the traditional yield strategies, but it does everything totally on-chain. Analysts believe the SEC’s consideration of staking to be a big step. It has the effect of signaling to regulators that yield generation may now be viewed as consistent with ETF frameworks. Nate Geraci stressed faster SEC reviews back his two-week forecast for approval. The recent developments on Bitcoin and Ether ETFs demonstrate this efficiency. Pantera Capital called Solana “next in line” after being under-allocated for years next to Bitcoin and Ether. Market observers suggest Solana’s speed and growing adoption come to make it an institutional-grade asset. These ETF filings point to its ripeness in digital asset food chain.

Meanwhile, it is noted that Solana’s momentum abroad was noted by Bitwise CIO Hunter Horsley. He added Bitwise’s European-listed Solana staking product had attracted $60m in five trading days. The surge is evidence, Horsley said, that “Solana is on people’s minds.” Such inflows give further credence to expectations of how strongly U.S.-listed Solana ETFs can take the market and, once approved. The fact that staking provisions were included in U.S. Solana ETF filings also has broader implications. Geraci noted that SEC acceptance here would be good news for oft delayed spot Ethereum ETFs. Applicants for Ether ETF have always challenged for yield-generating capabilities through staking. Analysts predict that approval of these structures could “reshape the market” by combining exposure with generating income. Optimism on the part of issuers continually mounts as the regulators seem to be more receptive. Despite the cautious stance, issuers have every confidence. Grayscale, Bitwise and Canary estimated their Solana trusts would all use staked accounts directly. These accounts put rewards into either payouts or reinvested holdings. This flexibility is attractive to investors looking to get both the income and the growth. The structure reflects a design of the proof of stake implemented in Solana but from a regulatory perspective. Such developments underscore the balancing of innovation in blockchain for the broader altcoin market.

Solana has demonstrated significant network growth as blockchain analytics indicate substantial capital migration towards its ecosystem. Recent data tracking cross-chain transfers shows Solana attracted approximately $2 billion in net inflows over a thirty-day period ending September 23, 2025. This movement represents about 37% of the total value shifted across chains during this timeframe, signaling strong investor preference for Solana as a base layer for asset storage and operations.

A notable aspect of this capital inflow is its origin, with approximately $1 billion originating specifically from transfers migrating away from Ethereum. This significant net migration suggests users are finding increasing utility in Solana's infrastructure for activities such as interacting with decentralized applications (dApps), engaging in decentralized finance (DeFi), or accessing other on-chain services, potentially influenced by features like transaction speed and cost structure.

Further strengthening the network's position is the rapid expansion of its stablecoin ecosystem. Analysis reveals the total market capitalization of stablecoins circulating within the Solana network increased by roughly 12% over the same thirty-day period, reaching an estimated $13.2 billion. This growth is crucial as stablecoins act as readily deployable capital for lending, liquidity provision, and payments, laying a foundation for heightened future activity within Solana's DeFi landscape and attracting developers seeking access to this liquidity.

The broader expectation of increasing adoption is bolstered by recent project announcements. MAGACOIN FINANCE, a cryptocurrency project originally developed on Ethereum, disclosed it is listing Solana among potential chains for early-stage exploration. While the project successfully secured significant funding recently, its consideration of Solana highlights the network's expanding appeal to diverse crypto initiatives seeking development platforms.

Market analysts are also anticipating potential regulatory developments. Ongoing discussions within the financial sector point towards a possibility of Solana-based Exchange-Traded Funds (ETFs) receiving approval in the foreseeable future. This prospect is generating investor interest, though the final outcome remains pending regulatory action.

For the current inflow trend to persist, Solana must continuously demonstrate tangible benefits for users and projects. Maintaining its hallmark speed and low transaction costs, offering compelling DeFi opportunities, facilitating seamless development, and providing unique on-chain advantages absent elsewhere are critical factors. Competition remains a key consideration, emphasizing the network's need for sustained innovation and ecosystem maturation to solidify its position and continue attracting both capital and development activity.