Solana ETF Approval on the Horizon?
The U.S.Securities and Exchange Commission (SEC) might soon approve a Solana spot ETF. multiple sources, as reported by blockworks,suggest this could happen within months.
The SEC has asked potential Solana (SOL) ETF issuers to update their S-1 registration statements by next week. One source believes approval could come in three to five weeks. Two sources say the SEC will review these updates within 30 days. The focus is on how issuers will handle in-kind redemptions and if staking will be incorporated into the ETF structure. Notably, the SEC is said to be open to allowing staking as part of these products.
Bloomberg Intelligence analyst James Seyffart thinks approval could come as early as July. The final SEC decision deadlines, based on the 240-day review period, extend to October. Seyffart believes the agency may now prioritize 19b-4 filings related to Solana and staking ETFs sooner than expected.
Several asset managers are eager to offer a Solana ETF. These include VanEck, Bitwise, fidelity, Grayscale, Franklin Templeton, Canary Capital, and 21Shares.Grayscale aims to convert its existing SOL Trust into a spot ETF, following its strategy for Bitcoin (BTC) and Ethereum (ETH) products.
The SEC formally acknowledged Grayscale’s Solana ETF proposal in february, a significant shift from its past resistance. While the SEC delayed its decision in May, it was seen as procedural rather than a rejection. This delay was viewed positively, especially after CME launched SOL futures in February.
CME’s launch of SOL futures has led to the introduction of SOL futures ETFs, including two from Volatility Shares.following the historic approval of spot Bitcoin ETFs in january 2024 and Ethereum ETFs in May 2025, attention has now turned to other top digital assets like Solana. The existence of futures markets often paves the way for spot ETF approval, as seen with BTC and ETH.
