Seven issuers have submitted amended S-1 forms for Solana exchange-traded funds (ETFs) to the U.S. Securities and Exchange Commission (SEC), indicating that approvals may be approaching. The filings aim to clarify language that allows staking of held SOL, enabling issuers to generate yield on the Solana they manage. The proposed ETFs from 21Shares, Bitwise, Fidelity, Franklin Templeton, Grayscale, VanEck, and Canary Capital seek to provide investors with direct exposure to Solana. The inclusion of staking in ETFs has raised concerns among regulators, particularly due to the financial and security-related risks associated with the practice, following previous delays in decisions for Ethereum ETFs. As U.S. regulators begin easing restrictions in the digital assets sector, there is speculation that the SEC may soon approve Solana ETFs for trading. This comes amid a surge in applications for cryptocurrency-based ETFs, although the agency has yet to approve any spot ETFs linked to cryptocurrencies aside from Bitcoin and Ethereum.

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