Solana News Today: Investors Gain Staking Yields Through First U.S. Solana ETF as SEC Delays Ruling

Canary Capital Group LLC and Marinade Finance have submitted an amended S-1/A registration statement with the U.S. Securities and Exchange Commission (SEC) for the proposed "Canary Marinade Solana ETF," a spot exchange-traded fund (ETF) designed to track the price of Solana (SOL) while integrating staking rewards. The ETF, which will trade under the ticker "SOLC" on the Cboe BZX Exchange, aims to provide investors with regulated exposure to Solana through a structure that diverges from traditional mutual funds by not registering under the Investment Company Act of 1940 or the Commodity Exchange Act Solana Price Eyes Breakout as New ETF Tracks SOL Performance^[1]. This approach eliminates certain regulatory protections for investors but offers transparency and direct participation in Solana's price movements.

The amended filing introduces a partnership with Marinade Finance, a Solana-based staking protocol, to generate additional yield for investors. The ETF's structure allows it to stake its SOL holdings via Marinade's liquid staking infrastructure, enabling investors to earn staking rewards without directly managing staking operations. This integration marks one of the first instances of a U.S. crypto ETF incorporating staking as a core feature, positioning it as a hybrid between traditional financial products and decentralized finance (DeFi) mechanisms Canary Files for Solana Spot ETF with Marinade Staking Feature^[2]. BitGo Trust Company will serve as the custodian, maintaining control of private keys for staked assets while leveraging Marinade's validator network to ensure operational security Marinade Makes History as First and Exclusive Staking Provider in …^[3].

Regulatory uncertainty remains a key hurdle. The SEC has postponed decisions on multiple Solana ETF proposals, including those from Canary Capital, 21Shares, Bitwise, VanEck, and Fidelity. The Commission cited the need for additional time to evaluate legal and policy issues, such as market manipulation risks and investor protection concerns. Current review timelines extend into the fourth quarter of 2025, with prediction markets like Polymarket assigning an 82% probability of approval by year-end Solana ETF News: Canary Capital Boosts Bid with Staking Feature^[4]. Analysts suggest that regulatory delays reflect broader skepticism toward crypto ETFs beyond Bitcoin and Ethereum, though some market participants remain optimistic about Q4 2025 approvals.

Market dynamics highlight the ETF's potential impact. Solana's price has fluctuated around $212 as of the filing date, with technical analysis pointing to key resistance levels at $225, $235, and $250. A weekly close above $250 could signal a medium-term rally toward $1,000 by December, contingent on sustained institutional demand and regulatory clarity. Institutional adoption has accelerated, with entities like Helius Medical allocating $167 million to a Solana treasury and Pantera Capital backing a $500 million digital asset strategy. These commitments reinforce a structural floor for SOL demand while diversifying capital inflows beyond speculative retail activity Solana Price Forecast: SOL-USD at $212 as $167M Treasury Bet, …^[5].

The ETF's staking model introduces unique risks and opportunities. While Solana's proof-of-stake mechanism currently avoids "slashing" penalties, future protocol changes could alter risk profiles. Additionally, liquidity constraints during staking lock-up periods may affect the ETF's responsiveness to market volatility. Proponents argue that the yield-generating feature differentiates the product from conventional crypto ETFs, aligning with growing demand for income-focused crypto investments.