Solana News Today: VanEck Resubmits Spot Solana ETF Application to SEC Amid Rising Institutional Demand

VanEck has submitted an updated S-1 application for a spot Solana (SOL) ETF to the U.S. Securities and Exchange Commission (SEC) [1]. This update builds on the firm’s initial filing in July 2024 and reflects its ongoing effort to introduce a regulated investment product for U.S. investors seeking exposure to Solana [2]. The development is part of a broader industry trend, with multiple major asset managers, including 21Shares, Bitwise, and others, also submitting or revising their Solana ETF applications [1]. These filings indicate a growing institutional interest in Solana as an alternative to Bitcoin and Ethereum within the crypto asset management space [1].

Bitwise and VanEck have both included proposals to incorporate liquid-staking tokens (LSTs) such as JitoSOL and SSK into their Solana ETFs [3]. This approach reflects an evolving investment strategy that aims to combine direct blockchain exposure with yield-generation opportunities through staking. The inclusion of LSTs has been justified by both firms as a way to enhance the utility and diversification of Solana-based investment products [3].

In addition to ETF issuers, a coalition of industry stakeholders—including Jito Labs, Multicoin Capital, and the Solana Policy Institute—submitted an open letter to the SEC in support of Solana-based investment vehicles [4]. The letter emphasized the platform’s strong infrastructure and liquidity, which are seen as key factors in reducing regulatory concerns around market manipulation. This coordinated effort highlights the increasing confidence in Solana as a viable asset class for institutional investors [4].

The SEC has received multiple Solana ETF applications in recent months, with eight S-1 filings submitted on June 13, 2025, and another on June 25, 2025 [5]. These filings collectively reflect a significant push for regulatory approval. The regulatory environment for crypto ETFs has been evolving rapidly since the approval of Ethereum-based spot ETFs in 2024, creating a more favorable landscape for similar products [6].

Among the applications, the Invesco Galaxy Solana ETF has stood out for its inclusion of a staking mechanism, a feature not commonly found in traditional ETFs [7]. If approved, the product would generate returns from both price appreciation and staking rewards, marking a novel approach to crypto investing. The Cboe BZX Exchange, which also filed for the Invesco Galaxy Solana ETF, plans to use the Lukka Prime Solana Reference Rate for pricing [7]. Updated every 15 seconds, the rate aggregates data from major exchanges to offer a transparent and real-time benchmark for Solana’s value [7].

The increased activity around Solana ETFs suggests that the industry is moving toward greater regulatory acceptance of blockchain assets. As the SEC reviews these filings, the outcome could significantly influence the future development and adoption of spot crypto ETFs in the U.S. market [7].

Source:

[1] AInvest https://www.ainvest.com/news/solana-news-today-21shares-submits-revised-1-solana-etf-rising-institutional-interest-2507/

[2] Mitrade https://www.mitrade.com/au/insights/news/live-news/article-3-998104-20250730

[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