Solana News Today: Seven Major Firms Resubmit Amended Solana ETF Applications to SEC

Seven major asset managers have submitted updated S-1 filings with the U.S. Securities and Exchange Commission (SEC) for proposed spot Solana (SOL) exchange-traded funds (ETFs), signaling a growing consensus among institutional players to offer regulated exposure to the high-performance blockchain asset [1]. These firms include Grayscale, Franklin Templeton, Fidelity, VanEck, and others, all of whom have incorporated revisions addressing regulatory feedback and including staking mechanisms to align with the SEC’s evolving expectations [2].

The applications feature detailed disclosures on fees, custodians, and staking models, emphasizing transparency and institutional-grade security for potential investors [3]. Grayscale’s revised proposal includes a unique 2.5% management fee that can be paid directly in SOL tokens, highlighting an emerging trend toward crypto-centric fee structures [2]. These amendments follow earlier submissions that had been met with regulatory hesitation, and demonstrate the industry’s responsiveness to feedback from the SEC [4].

In addition, Jito Labs, VanEck, and other firms have co-authored a letter to the SEC advocating for the inclusion of liquid staking tokens (LSTs) in Solana-based ETFs [5]. This initiative is supported by Bitwise and others who argue that staking mechanisms can enhance investor returns and differentiate these products in the market [6]. The proposed model would mark the first U.S. ETF to integrate staking rewards directly into its return structure.

Cboe BZX Exchange has also filed with the SEC to list the Invesco Galaxy Solana ETF, which will hold and stake the native SOL token [7]. This ETF, developed in partnership with Invesco and Galaxy Digital, aims to offer regulated access to Solana beyond the more established Bitcoin and Ethereum-based products. The fund will use the Lukka Prime Solana Reference Rate for pricing, aggregating data from multiple exchanges to ensure accurate valuation [7].

The industry momentum is not limited to Solana. A parallel proposal for an Injective (INJ) staked ETF has also been submitted, reflecting a broader industry push to diversify crypto ETF offerings and attract institutional interest in emerging blockchain projects [7].

As of August 1, 2025, Solana (SOL) is trading at $169.58 with a market capitalization of $91.26 billion [1]. Despite a 5.76% decline in the last 24 hours, the token has posted a 14.05% gain over the past month, demonstrating resilience amid regulatory developments [1]. The growing institutional interest and evolving fee structures may further support Solana’s integration into mainstream finance.

Collectively, these developments indicate a maturing regulatory and market landscape for crypto-based ETFs. The inclusion of staking, enhanced liquidity strategies, and robust market infrastructure are key factors in the case for SEC approval. If these proposals gain regulatory clearance, they could represent a significant shift in how both institutional and retail investors access and engage with digital assets in a regulated environment.

Source:

[1] Spot Solana ETF issuers file amended S-1 applications (https://cryptobriefing.com/spot-solana-etf-sec-filings/)

[2] Seven Major Firms Resubmit Solana ETF Applications to ... (https://www.ainvest.com/news/solana-news-today-major-firms-resubmit-solana-etf-applications-sec-deadline-2508/)

[3] Grayscale and VanEck file amended Solana ETFs with SEC (https://www.ainvest.com/news/solana-news-today-grayscale-vaneck-file-amended-solana-etfs-sec-2508/)

[4] Spot Solana ETF Race: 21Shares Updates Application ... (https://bitcoinist.com/spot-solana-etf-race/)

[5] Bitwise, VanEck Push SEC Approval for LSTs in Solana ETFs (https://coingape.com/bitwise-vaneck-push-sec-approval-for-lsts-in-solana-etfs/)

[6] Cboe Pushes Solana ETF Amid Rising Demand for Layer 1 ... (https://cryptodaily.co.uk/2025/07/cboe-pushes-solana-etf-amid-rising-demand-for-layer-1-crypto-exposure)

[7] Invesco Galaxy Files For Solana ETF With Cboe (https://www.banklesstimes.com/articles/2025/07/31/invesco-galaxy-files-for-solana-etf-with-cboe/)