Coinatory Publisher
Seven Solana ETF issuers filed S-1 forms with the SEC on June 13, but Bloomberg ETF analyst James Seyffart believes approval isn’t likely anytime soon. He compared the situation to spot Bitcoin ETFs, which took over a decade from the first filing in 2013 to their eventual launch in January 2024.
“There needs to be back and forth with the SEC to iron out details,” Seyffart said, noting the heavy filing activity that preceded the Bitcoin ETF approvals.
The latest filings came from major firms, including Fidelity, 21Shares, Franklin Templeton, Grayscale, Bitwise, Canary Capital, and VanEck — the first US firm to apply for a Solana ETF earlier in June. Seyffart highlighted that all filings appear to include “staking language,” which adds complexity. While past Bitcoin and Ether ETF approvals may speed up certain aspects of the process, staking introduces new regulatory challenges.
The SEC is also reviewing proposals to allow staking for spot Ether ETFs. Seyffart speculated that Solana and Ether staking ETFs could be approved simultaneously, though he emphasized there’s no clear insight into the SEC’s decision timeline.
Bloomberg Intelligence recently raised the odds of a Solana ETF approval in 2025 to 90%. Meanwhile, Bloomberg’s Eric Balchunas said, “Get ready for a potential altcoin ETF summer with Solana likely leading the way.”
