Seven issuers of Solana exchange-traded funds (ETFs) in the United States submitted amended S-1 forms to the SEC, aiming to clarify language for staking capabilities on the altcoin. The applicants include 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital, who are seeking regulatory approval to launch these ETFs, which would allow them to stake their holdings and potentially generate yield for investors. This follows reports of the SEC requesting updates on S-1 filings from these issuers. Staking, the act of pledging tokens to a decentralized network for financial rewards, has previously faced scrutiny from regulators, particularly concerning security risks. These updated filings reflect a growing optimism that the SEC may soon approve Solana ETFs as regulatory stances towards digital assets soften, alongside a surge in ETF applications across the cryptocurrency sector. Solana is currently trading at $147, reflecting a 3.5% decline in the past day.

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