Solana News Today: Solana ETF Providers Submit Revised SEC Filings Amid Regulatory Dialogue

A group of financial firms has submitted amended S-1 registration statements to the U.S. Securities and Exchange Commission (SEC) for spot Solana exchange-traded funds (ETFs), indicating ongoing regulatory engagement and potential progress toward approval. Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck all filed the updates on Thursday. Grayscale’s filing included a 2.5% fund fee to be paid in SOL, Solana’s native token. While the amendments did not introduce major changes, they suggest that issuers and the SEC are refining prospectus language [1].

Industry observers have interpreted the filings as a sign of active dialogue between the SEC and ETF providers. Nate Geraci, president of NovaDius Wealth, noted on X that the revisions likely reflect the ongoing refinement of language and documentation, rather than substantial structural changes to the proposals. He added that investors should expect fees to align with those of Bitcoin and Ethereum ETFs [1].

Separately, CoinShares took a further step in its Solana strategy by registering a Delaware-based entity for a Solana Staking ETF. This move, dated June 10, 2025, positions the firm to offer investors exposure to Solana with the added benefit of staking rewards. Staking ETFs function like traditional ETFs but incorporate mechanisms native to proof-of-stake blockchains, where tokens are staked to validate transactions and earn yield for the fund [1].

The SEC’s evolving regulatory approach is evident in its broader review of multiple spot ETF applications for various cryptocurrencies. Alongside Solana, proposals for ETFs tracking XRP and DOGE are also under consideration. Earlier in the week, the SEC approved in-kind redemptions for Bitcoin and Ethereum ETFs and raised options limits for Bitcoin funds, signaling a more accommodating stance toward crypto assets [1].

On Thursday, SEC Chair Paul Atkins announced “Project Crypto,” a new initiative aimed at modernizing the agency’s regulatory framework for digital assets. During the announcement, Atkins stated that “most crypto assets are not securities,” a departure from prior interpretations under previous leadership [1].

These developments suggest the SEC is moving toward a more structured and inclusive regulatory environment for crypto ETFs, potentially paving the way for broader institutional adoption. However, final approval remains pending as the agency continues to review the filings.

Source: [1] Coordinated S-1 Filings Suggest Solana ETF Approval Is Moving Forward (https://coinedition.com/solana-etf-filings-amended-sec-dialogue/)