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

Seven major asset managers, including Bitwise, Canary Capital, Fidelity, CoinShares, Grayscale, Franklin Templeton, and VanEck, have submitted amended S-1 registration statements with the U.S. Securities and Exchange Commission (SEC) for their proposed spot Solana (SOL) exchange-traded funds [1]. These filings, submitted between July 22 and July 31, 2025, represent a strategic move to align with regulatory expectations and refine the structure of the proposed ETFs [3]. The updated documents address key areas of concern, such as in-kind redemptions, staking arrangements, and custodianship, reflecting a broader dialogue between issuers and the SEC [2].

An S-1 registration is a standard legal document used to register a new securities offering. In the case of spot Solana ETFs, it serves as a formal application to launch a fund that would provide direct exposure to SOL, the native token of the Solana blockchain [1]. The amendments to these filings typically include clarifications or updates based on SEC feedback, which can range from procedural adjustments to more substantive changes in product structure [2].

According to market analyst Nate Geraci, the revisions indicate that both issuers and regulators are working toward consensus on key language and structural elements of the prospectus [2]. The process involves ongoing communication between the SEC and ETF providers, with the aim of ensuring transparency and investor protection. Geraci also estimates a 95% likelihood of approval for the Solana ETFs, though the inclusion of staking in the product design remains uncertain [2].

The regulatory process for a spot ETF involves two key components: the S-1 filing and a separate 19b-4 filing, which proposes a rule change to list the ETF on a national exchange [3]. While some firms have already submitted their 19b-4 filings, others are expected to follow suit in the near term. The SEC has reportedly requested additional information on in-kind redemption procedures and staking mechanisms [1]. The recent approval of in-kind creation and redemption for Bitcoin and Ethereum ETFs has further bolstered expectations for a similar treatment for Solana-based products [3].

The timeline for a final decision remains uncertain, though industry observers suggest a decision could come as early as late August or September 2025 [1]. Market participants, including those on Polymarket, are nearly certain that Solana ETFs will be approved by the end of 2025 [1]. If approved, the introduction of Solana ETFs would mark a significant expansion of the U.S. crypto ETF landscape, following the successful launch of Bitcoin and Ethereum-based products.

The industry is also exploring the potential inclusion of staking features in future digital asset ETFs, with some firms advocating for the integration of liquid staking mechanisms into their product designs [2]. This trend reflects a growing interest in enhancing yield generation for institutional and retail investors alike.

As the regulatory environment for digital assets continues to evolve, the ability of market participants to adapt to SEC feedback while maintaining investor confidence will play a crucial role in the future of crypto ETFs. These recent filings signal a pivotal moment in the broader adoption of digital assets within mainstream financial markets.

Source:

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

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

[3] Solana ETFs edge closer to approval as Grayscale and ... (https://cryptorank.io/news/feed/31a41-solana-etfs-edge-closer-to-approval)