On June 13, 2025, seven issuers submitted amended S-1 forms for Solana exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC), indicating that approvals might be forthcoming. The applicants, including 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital, aimed to launch ETFs that directly track Solana (SOL) while incorporating staking capabilities to generate yields for investors. This move follows a request from the SEC for updates to clarify the staking language in the filings. Staking, a process for earning rewards by pledging tokens, has previously faced scrutiny from regulators, notably delaying decisions on Ethereum ETFs. As the digital assets industry sees a softening of regulatory restrictions under the pro-crypto stance of the current U.S. administration, experts anticipate that the SEC may approve Solana ETFs soon. SOL was trading at $147, down 3.5% at the time of the update.

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