Solana News Today: SEC's Staking Stalemate: Solana ETFs Surge to $1.47B AUM Ahead of 2025 Verdict

The Solana ecosystem is witnessing a surge in institutional and retail interest as spot exchange-traded products (ETPs) gain momentum, with assets under management (AUM) for Solana-related funds surpassing $1.47 billion. This growth is driven by a wave of regulatory filings and staking innovations, positioning Solana as a leading contender for mainstream adoption in 2025. The U.S. Securities and Exchange Commission (SEC) is currently reviewing 92 Solana ETF applications, with key decisions expected by October 2025, according to Bloomberg Intelligence analyst James Seyffart. If approved, these funds could catalyze a new era of institutional capital inflows, mirroring the success of Bitcoin and Ethereum ETFs.

Grayscale Investments, the largest digital asset-focused platform by AUM, has taken a pioneering role by activating staking in its Grayscale Solana Trust (GSOL), which holds $134 million in assets. The firm plans to convert GSOL into a spot ETF, pending regulatory approval, and has filed updated S-1 forms to include staking features. This move aligns with broader industry trends, as other major asset managers-including VanEck, 21Shares, Bitwise, and Fidelity-have also submitted revised applications to integrate staking into their Solana ETFs. Staking, which allows investors to earn yield by securing the network, is seen as a critical differentiator, with Solana's current staking rewards at approximately 7.3% annually, significantly higher than Ethereum's 2% .

The regulatory timeline for Solana ETFs has sharpened in recent months, with the SEC setting key deadlines for decisions. January 23–25 and March 11, 2025, are critical dates for rulings on applications from Grayscale, VanEck, and others. Analysts, including Tyr Capital's Edouard Hindi, suggest delays are likely due to regulatory scrutiny over Solana's classification as a potential security. However, optimism has grown following the appointment of crypto-friendly SEC nominee Paul Atkins and the launch of regulated Solana futures contracts by Coinbase, addressing concerns about market manipulation . Polymarket traders have priced a 99% probability of Solana ETF approval in 2025, with a 90% chance by July 31, 2025 .

Institutional adoption is accelerating, with recent inflows into Solana ETPs reaching $291 million in a single week, pushing total AUM past $500 million. The REX-Osprey Solana Staking ETF (SSK), launched in July 2025, has become a standout performer, amassing $121 million in assets within 12 trading days. SSK's structure allows investors to access both price appreciation and staking rewards through traditional brokerage accounts, a model that has drawn comparisons to Bitcoin's ETF-driven rally in 2024. Meanwhile, CME Group's Solana futures open interest hit $2.16 billion in October 2025, a tenfold increase in two months, signaling robust institutional confidence .

Market analysts project that a successful Solana ETF approval could drive the price of SOL to $290–$345, with bullish scenarios targeting $1,000 by December 2025. This optimism is underpinned by Solana's technical advantages, including its 150-millisecond block propagation time and low transaction costs, which have attracted corporate treasuries. Companies like Forward Industries and Helius Medical have allocated billions to Solana, with the latter adding 2.2 million SOL to its reserves. These developments highlight Solana's transition from speculative asset to institutional reserve, a trend analysts compare to Bitcoin's adoption by firms like MicroStrategy .

The regulatory landscape remains a key variable. While the SEC's 2025 rule changes have eased barriers for spot crypto funds, challenges persist. For instance, the SEC's delayed approval of staking in Ethereum ETFs has created uncertainty, though recent statements indicate a shift toward accommodating yield-generating features. Grayscale's updated filings and Fidelity's application for a staking-enabled Solana ETF signal a potential alignment between regulatory expectations and market demand. If approved, these products could redefine the ETF landscape, offering investors a diversified basket of crypto assets with active income generation .

Corporate and institutional activity is further solidifying Solana's market position. The network's total value locked (TVL) in decentralized finance (DeFi) surged to $12.86 billion in October 2025, driven by protocols like Jupiter and Raydium. Additionally, Solana's stablecoin market, valued at $14.96 billion, is facilitating real-world use cases such as remittances and tokenized assets. These fundamentals, combined with the impending ETF decisions, are creating a self-reinforcing cycle of adoption and price appreciation .

[1] Grayscale Investments (https://www.sec.gov/Archives/edgar/data/1725210/000119312525231048/press_release_10.6.2025.htm)

[2] Solana ETF Approval Timeline (https://blog.mevx.io/solana/solana-etf-approval-timeline-to-watch-in-2025)

[3] Polymarket (https://www.polymarket.com)

[4] REX Shares (https://www.rexshares.com/ssk-reaches-100m-in-aum/)

[5] MIT Technology Review (https://www.abcmoney.co.uk/2025/10/solana-surges-to-232-etf-hype-and-corporate-adoption-fuel-2025-crypto-boom/)

[6] Bloomberg Intelligence (https://www.bloomberg.com)

[7] CoinDesk (https://www.coindesk.com/markets/2025/07/09/solana-etfs-see-usd78m-inflows-as-interest-in-altcoin-investment-products-grows)