Solana News Today: Grayscale and VanEck Revise Solana ETF Filings as Approval Prospects Strengthen

Grayscale and VanEck have submitted revised S-1 forms for their proposed Solana ETFs, signaling heightened confidence in the regulatory approval process and suggesting that a U.S. listing for Solana-based exchange-traded products may be closer than previously expected [1]. Both firms are leveraging a grantor trust structure, which places them outside the jurisdiction of the Investment Company Act and the Commodity Exchange Act, potentially easing regulatory scrutiny [1]. Grayscale’s fund, which will trade under the ticker GSOL on NYSE Arca, operates with a 2.5% sponsor fee and relies on a cash-only model for share creation and redemption, with Coinbase Custody as its sole custodian [1]. VanEck’s competing ETF, VSOL, targets a lower 1.5% fee and will be custodied jointly by Gemini and Coinbase. Additionally, VanEck has outlined an active staking strategy, with staking rewards reinvested directly into the fund [1].

The regulatory environment is also shifting, with industry players pushing for innovative features such as liquid staking. Jito Labs, alongside VanEck and Bitwise, has advocated for the inclusion of liquid staking in Solana ETPs, arguing that such features would enhance capital efficiency and reduce operational risks for institutional investors [4]. This aligns with broader efforts to meet the evolving requirements of the U.S. Securities and Exchange Commission (SEC).

Market activity on the Solana blockchain has continued to grow despite recent price volatility. Weekly transaction volumes have risen by over 21% in the past six weeks, reflecting sustained demand and innovation within the ecosystem [4]. Institutional investors, including DeFi Dev Corp, have been accumulating Solana (SOL) at discounted prices, signaling optimism about the asset’s long-term value [4].

Analysts are closely monitoring key price levels between $170 and $175, with a successful defense of this support range potentially triggering short-liquidation pressures that could drive Solana back toward $196 or higher [4]. Market participants remain divided on the timeline for SEC approval, with one proposed eligibility date being September 17 under Cboe’s listing requirements, though the commission has set a soft deadline of October 10 [2].

The convergence of regulatory developments and market fundamentals suggests that a favorable outcome for a Solana ETF is becoming more likely than previously assumed. With updated filings now public and industry players aligning behind a compliant and innovative approach, the focus remains on the SEC’s final decision [1].

Sources:

[1] Grayscale and VanEck filed updated plans to launch Solana ETFs in the US, moving closer to SEC approval. (https://www.mitrade.com/insights/news/live-news/article-3-1003409-20250801)

[2] Solana ETFs Eligible for Approval by September 17 Under Cboe’s Proposed Listing Requirements. (https://solanafloor.com/news/solana-etfs-eligible-approval-september-17-under-cboes-proposed-listing-requirements)

[4] Solana Battles Key Support at $169 Amid Institutional Push for Liquid Staking ETFs. (https://www.fxleaders.com/news/2025/08/01/solana-battles-key-support-at-169-amid-institutional-push-for-liquid-staking-etfs)