- Solana is gaining institutional interest as seven major asset managers, including Fidelity and Grayscale, file amended S-1 forms for spot ETFs.
- These filings emphasize staking rewards, transparency, and may pave the way for SEC approval by late 2025.
A growing list of Wall Street giants, including Fidelity, Grayscale, and VanEck, are making bold moves to bring Solana (SOL) into the spotlight of traditional finance. On July 31, these asset managers filed amended S-1 registration statements with the U.S. Securities and Exchange Commission (SEC), reigniting hopes for the approval of the first spot Solana exchange-traded funds (ETFs).
Institutional Interest in Solana Soars
A total of seven firms—Fidelity, Grayscale, VanEck, Bitwise, Canary Capital, Franklin Templeton, and CoinShares—have revised their applications, indicating surging institutional appetite for Solana. These amendments reflect lessons learned from previous Bitcoin and Ethereum ETF approvals but are specifically tailored to Solana’s proof-of-stake (PoS) architecture.
Unlike Bitcoin ETFs, the Solana filings emphasize staking capabilities. This is a major differentiator. Solana’s protocol allows token holders to earn rewards through network participation, and several filings have proposed frameworks to pass these staking rewards directly to ETF investors.
Grayscale’s Filing Draws Attention
Among all filings, Grayscale’s updated submission stands out. The firm disclosed a 2.5% annual fee paid in SOL and outlined how staking income could benefit ETF holders. These details aim to enhance transparency and address potential SEC concerns around yield mechanisms, asset management fees, and investor protection.
In addition to staking, the revised documents offer deeper insight into custody, liquidity, and market surveillance structures. Applicants are also proactively disclosing regulatory and operational risks, hoping to get ahead of SEC scrutiny and clear the path to eventual approval.
The SEC May Be Shifting Its Stance
While the SEC has yet to approve any altcoin-based spot ETFs, signs suggest its stance is evolving. Reports hint that fast-track approvals for altcoin ETFs could arrive as soon as Q4 2025, reflecting growing political and institutional pressure to modernize crypto regulations.
With over $60 billion staked on its network, Solana stands to gain immensely. ETF approval could transform it into a recognized blue-chip asset, broaden access through brokerage accounts, and attract new capital inflows—enhancing both liquidity and long-term price stability.
Though approval remains uncertain, the flood of detailed filings signals a coordinated push by major financial players. Their confidence suggests that the crypto investment landscape could soon include more than just Bitcoin and Ethereum—ushering in a new chapter for Solana and the broader altcoin market.
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