Solana News Today: Solana ETFs Near Approval as Firms Finalize Fee Structures and Staking Models

Several firms are preparing for the imminent launch of Solana (SOL) exchange-traded funds (ETFs), with updated S-1 registration documents revealing key structural changes and fee disclosures. Grayscale and VanEck have both modified their filings to include fee structures, custodianship details, and staking reward mechanisms. Grayscale proposed a 2.5% annual fee for its GSOL ETF, with payments in SOL, and outlined plans to distribute staking rewards directly to investors. In contrast, VanEck introduced a 1.5% fee for its VSOL ETF, incorporating staking rewards as part of its value proposition [1].

The updated S-1 filings, submitted between July 22 and July 31, 2025, highlight refinements in operational mechanisms such as in-kind redemptions and custodianship arrangements [2]. These submissions are part of a two-stage regulatory process: the initial S-1 application and a subsequent 19b-4 filing for exchange listing. While some firms have already completed the 19b-4 stage, others are expected to do so in the near term. The U.S. Securities and Exchange Commission (SEC) has requested additional clarifications on in-kind redemption procedures and the integration of staking into fund operations, a pattern observed in the approval processes of Bitcoin and Ethereum ETFs [3].

Industry observers suggest the ongoing dialogue between the SEC and ETF issuers is narrowing regulatory gaps. Market analyst Nate Geraci noted that both sides are working toward consensus on prospectus language and product design [2]. Geraci also forecasts a 95% chance of approval for the Solana ETFs, though the inclusion of staking mechanisms remains uncertain [2]. Market sentiment is strong, with Polymarket participants nearly certain that Solana ETFs will be approved by year-end 2025 [1].

The recent filings also underscore a strategic trend in incorporating yield-generating features into digital asset ETFs. Some firms have proposed integrating liquid staking mechanisms into their product designs, aiming to enhance returns for both institutional and retail investors [2]. While the SEC has not yet provided clarity on whether these features will be permitted, their inclusion reflects a broader push to innovate within the current regulatory framework.

As the SEC reviews the updated applications, the outcome will influence not only the development of Solana-based investment products but also the broader adoption of digital assets in traditional financial markets [3].

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)