7 Solana ETF hopefuls file S-1s, but more ‘back and forth’ with SEC ahead

Seven Solana ETF applicants filed S-1 statements with the US Securities and Exchange Commission (SEC) on June 13; however, Bloomberg ETF analyst James Seyffart doubts approval will come as soon as next week.

“I think there needs to be a back and forth with the SEC and issuers to iron out details, so I doubt it. If anyone remembers the Bitcoin ETF launch, there were *A LOT* of filings over the preceding couple months before launch,” Seyffartsaidin a post on Friday. US-based spot Bitcoin ETFs launched in January 2024, more than ten years after crypto exchange Gemini co-founders Tyler and Cameron Winklevoss filed the first spot Bitcoin ETF application with the SEC in 2013.

“Staking language” was included in all the filings

On June 13, Fidelity Investments filed its initial S-1 registration statement for its spot SolanaSOL$147.00SolanaChange (24h)2.44%Market Cap$71.53BVolume (24h)$4.2BView MoreETF product, while 21Shares, Franklin Templeton, Grayscale Investments, Bitwise Investments, and Canary Capital filed S-1 amendments.

VanEck — which was the first US firm to file for aspot Solana ETF in June 2024— was the last to submit its amended S-1 amended filing for the day.

Seyffartsaid, “All of them include staking language, I believe.” While Seyffart agreed with an X user’s pointthat“lessons learned” from past approvals could help speed up the process, referring to spot Bitcoin and Ether ETFs, he said that no such lessons apply to staking.

It comes as spot EtherETH$2,558EthereumChange (24h)2.30%Market Cap$308.15BVolume (24h)$23.16BView MoreETF products are also under review to add the long-anticipated staking feature.

Seyffart mulls idea of staking approval for spot Solana and Ether ETFs simultaneously

Seyffart said it is possible that the spot Solana ETFs “could theoretically” be launched with staking at the same time that the SEC approves staking for the spot Ether ETFs.

Related:Solana futures open interest hits $7.4B amid ETF speculation: Is $200 SOL next?

“But I have no insight into what will actually happen,” Seyffart said. On April 30, Bloomberg Intelligenceboosted its estimated oddsof the SEC approving a Solana ETF in 2025 to 90%.

Meanwhile, in January, Consensys founder Joe Lubin told Cointelegraph that Ether ETF issuers were hopeful that funds offering staking could “soon”be given the regulatory go-ahead.

On Tuesday, Bloomberg seniorETF analyst Eric Balchunas said, “Get ready for a potential altcoin ETF summer with Solana likely leading the way.”

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