Solana Exchange-Traded Funds (ETFs) With Staking May Receive US Approval Soon

According to ETF analyst Nate Geraci, several applications for Solana exchange-traded funds (ETFs) that involve staking could gain US approval by mid-October, following recent regulatory filings. “Guessing these are approved [within the] next two weeks,” Geraci, the president of NovaDius Wealth Management, posted on X on Friday.

Recent Filings by Asset Managers

Geraci highlighted that asset managers such as Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital all submitted amended S-1 documents for spot Solana (SOL) ETFs to the US Securities and Exchange Commission (SEC) on Friday. The S-1 document serves as a detailed disclosure outlining the company’s financials, risk profile, and the securities they plan to offer.

This news follows just over two months after the REX-Osprey Solana Staking ETF made its debut on the Cboe BZX Exchange, which recorded $33 million in trading volume and $12 million in inflows on its launch day.

Institutional Interest and Future Expectations

Recently, asset managers at Pantera Capital remarked that SOL is “next in line for its institutional moment,” pointing out its under-allocation compared to Bitcoin (BTC) and Ether (ETH). Geraci indicated that the coming month could be pivotal for the crypto market, citing notable events such as the first Hyperliquid (HYPE) ETF filing and the SEC’s approval of generic listing standards for crypto ETFs.

In an X post on Friday, Bitwise Invest chief investment officer Hunter Horsley noted that Europe’s Bitwise Solana staking ETP attracted $60 million in inflows over the last five trading days. “Solana on people’s minds,” Horsley stated.

Analysts from Bitfinex mentioned that altcoins might not experience a significant rally until there are more approved crypto ETFs that provide investors with exposure further down the risk curve.

Geraci also emphasized that the addition of staking in the recent US ETF filings is encouraging for the prospect of spot ETH ETF staking.

Broader Market Implications

Recent sentiments from various industry participants support this view. Markus Thielen, head of research at 10x Research, told that staking for Ethereum ETFs could enhance yield and “dramatically reshape the market.”

As of now, US ETF issuers are still waiting for the SEC’s approval to allow Ether ETFs to offer staking, having submitted multiple requests for permission earlier this year.