Solana News Today: Seven Major Firms Revise Solana ETF Filings to Align with SEC Feedback

Seven major asset managers — including Grayscale, VanEck, Bitwise, Canary, Franklin Templeton, Fidelity, and CoinShares — have submitted amended S-1 registration statements to the U.S. Securities and Exchange Commission (SEC) for their proposed spot Solana (SOL) ETFs [1]. These amendments follow initial filings in June 2025 and signal continued efforts to obtain regulatory approval for ETFs expanding beyond Bitcoin and Ethereum [7]. The updated filings include adjustments to align with regulatory feedback, such as the inclusion of liquid-staking tokens like JitoSOL and SSK, allowing investors to gain direct exposure to Solana while also participating in yield-generating staking mechanisms [3].

The regulatory landscape for crypto ETFs has evolved, especially with the approval of Ethereum-based spot ETFs in 2024. This shift has encouraged broader interest in alternative blockchains, with Solana emerging as a leading contender [7]. Bitwise and VanEck have highlighted how the integration of staking features enhances the utility and diversification of their products. Grayscale and VanEck filed their revised S-1 documents on July 29, 2025, reflecting a coordinated push for regulatory clarity [5]. Additionally, industry groups including Jito Labs, Multicoin Capital, and the Solana Policy Institute have submitted a letter of support to the SEC, emphasizing Solana’s robust infrastructure and liquidity as mitigating factors against market manipulation concerns [4].

Bloomberg ETF analyst Eric Balchunas and ETF Store President Nate Geraci have noted that the revised filings indicate ongoing dialogue between the SEC and ETF issuers, with prospectus language being refined in response to regulatory feedback [1]. Industry experts estimate a 95% likelihood of approval for spot Solana ETFs, though the path forward for products incorporating staking features remains uncertain [1]. Geraci has suggested that staked Ether ETFs could be the next to receive regulatory approval, following the recent authorization of in-kind redemptions for spot Bitcoin and Ethereum ETFs [1].

The Invesco Galaxy Solana ETF, which includes a staking mechanism and utilizes the Lukka Prime Solana Reference Rate for pricing, has become a notable example in the space [7]. If approved, it would offer investors returns from both price appreciation and staking rewards, representing a novel model for crypto investing.

With multiple firms now submitting or revising their S-1 filings, the industry appears to be moving closer to regulatory acceptance of Solana-based investment vehicles. The SEC’s final decision could have significant implications for the broader development and adoption of spot crypto ETFs in the U.S. market [7].

Source:

[1] Theblock.co [https://www.theblock.co/post/365168/firms-amend-sol-fund-filings-as-they-look-to-get-the-secs-approval]

[3] CoinGape [https://coingape.com/bitwise-vaneck-push-sec-approval-for-lsts-in-solana-etfs/]

[4] PANews [https://www.panewslab.com/en/articles/bsuhv9ui]

[5] CryptoRank [https://cryptorank.io/news/feed/31a41-solana-etfs-edge-closer-to-approval]

[7] Crypto Daily [https://cryptodaily.co.uk/2025/07/cboe-pushes-solana-etf-amid-rising-demand-for-layer-1-crypto-exposure]