Solana News Today: VanEck Resubmits Spot Solana ETF Application to SEC as Institutional Support Grows

VanEck has resubmitted an updated S-1 application for a spot Solana (SOL) ETF to the U.S. Securities and Exchange Commission (SEC), following its initial filing in July 2024 [1]. This move reflects ongoing efforts to secure regulatory approval for a U.S.-listed investment product that tracks the Solana blockchain directly. The updated filing is part of a broader trend, as multiple asset managers, including Bitwise, continue to revise or submit their own proposals for Solana ETFs [1].

Bitwise’s application also includes a revised S-1 form, incorporating the use of liquid-staking tokens (LSTs) such as JitoSOL and SSK into its proposed Solana ETF [3]. This approach aims to combine direct exposure to the Solana network with the potential for yield generation through staking. Both firms argue that the inclusion of LSTs enhances the diversification and utility of Solana-based investment vehicles [3].

In a coordinated effort, Jito Labs, Multicoin Capital, and the Solana Policy Institute have submitted an open letter to the SEC supporting the development of Solana-based investment products [4]. The letter emphasizes Solana’s strong infrastructure and liquidity, positioning them as factors that could mitigate regulatory concerns related to market manipulation. This initiative highlights the growing institutional confidence in Solana as a viable asset class [4].

The SEC has received a significant number of Solana ETF applications in recent months. Eight S-1 forms were filed on June 13, 2025, with an additional submission following on June 25, 2025 [5]. These filings represent a notable surge in demand for regulated Solana exposure, particularly in the wake of the 2024 approval of Ethereum-based spot ETFs [6].

One of the standout proposals is the Invesco Galaxy Solana ETF, which includes a staking mechanism in its design [7]. If approved, this feature would allow the fund to generate returns from both price appreciation and staking rewards, offering a distinct approach to crypto investing. Additionally, the Cboe BZX Exchange has proposed using the Lukka Prime Solana Reference Rate for pricing, which updates every 15 seconds and aggregates data from major exchanges to create a transparent benchmark [7].

The increasing number of Solana ETF applications signals a potential shift in how traditional financial institutions view blockchain-based assets. As the SEC reviews the latest submissions, the outcome could influence the broader landscape of spot crypto ETFs in the U.S., particularly for newer platforms like Solana [7].

Source:

[1] AInvest https://www.ainvest.com/news/solana-news-today-vaneck-resubmits-spot-solana-etf-application-sec-rising-institutional-demand-2508/

[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] SEC.gov https://www.sec.gov/files/ctf-written-letter-sec-07312025.pdf

[6] Forbes https://www.forbes.com/advisor/investing/cryptocurrency/ethereum-price-today/

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