Solana News Today: Staking Splits ETF Strategies as Solana Gains Institutional Ground Amid Regulatory Fog

CoinShares has reportedly pulled its Solana ETF proposal amid broader market turbulence and shifting regulatory dynamics, signaling a recalibration in institutional strategies for crypto exposure. The move follows a series of developments highlighting the precarious balance between innovation and compliance in the evolving ETF landscape. While Solana-based products have seen a surge in demand, contrasting approaches by major asset managers underscore the sector's fragmented regulatory environment and investor sentiment.

VanEck, a key player in the space, recently distanced itself from staking activities in its proposed BNB ETF, a stark reversal from its Solana product, which offers staking yields. The firm's updated S-1 filing with the SEC explicitly states that the BNB ETF will not engage in staking, citing regulatory uncertainties and the risk of the token being classified as a security. This caution reflects broader concerns about the SEC's stance on staking and token classification, as seen in past lawsuits against exchanges like Binance and Coinbase. VanEck noted that avoiding staking could lead to performance lag, but emphasized the need to mitigate legal exposure.

Meanwhile, Franklin Templeton has advanced its Solana ETF closer to launch, filing Form 8-A with the SEC-a procedural step often followed by immediate trading on NYSE Arca. The SOEZ ETF, with a 0.19% fee, will hold actual SOL tokens and aims to capitalize on the growing institutional appetite for the asset. This comes as Solana ETFs recorded $621 million in inflows by late November, driven by staking yields and lower fees compared to Bitcoin and Ethereum products. Bitwise, Fidelity, and Grayscale have also launched competing Solana ETFs, with the latter reporting a 32% net asset increase in its Grayscale Solana Trust ETF due to SOL price appreciation and a newly initiated redemption program.

The contrasting fortunes of Solana and Bitcoin ETFs are stark. While Bitcoin ETFs faced $3.79 billion in outflows in November 2025, Solana ETFs attracted $531 million in their first week, highlighting a shift in institutional capital. Analysts attribute this to Solana's competitive staking yields, which stand at 7%, and its lower fees. Despite a 31% monthly decline in SOL prices, the asset has maintained a 21-day inflow streak, with Franklin Templeton's upcoming entry expected to further boost liquidity according to analysts.

Regulatory ambiguity remains a critical hurdle. The SEC's recent guidance on staking-suggesting protocol-level staking does not require registration-has not fully resolved debates over securities law applicability. Caroline Crenshaw, the SEC's lone dissenting commissioner, criticized the guidance for lacking clarity, leaving firms like VanEck to navigate a gray area. For now, the market's focus is on execution: as Franklin Templeton's ETF nears launch, the broader sector braces for a test of regulatory tolerance and investor confidence.

Investors and analysts remain closely watching whether the upcoming regulatory developments will lead to a broader adoption of Solana-based ETFs or if the SEC will take a stricter stance on token classification. The performance of these products is likely to serve as a barometer for the future of crypto ETFs in the U.S. market.