Seven Firms Amend S-1 for Spot Solana ETF with Staking
Seven asset managers, including Bitwise, Fidelity and Franklin Templeton, have filed amended S-1 statements with the SEC for a spot Solana ETF. The updates detail fund structure, fees, in-kind creation and redemption, staking policies and custodial arrangements. Grayscale now proposes a 2.5% fee payable in SOL tokens, while CoinShares added a dedicated Solana staking ETF for passive yield. The filings follow SEC approval of Bitcoin and Ethereum ETF in-kind redemptions, indicating a clearer path for a Solana ETF. Bloomberg analysts assign a 90% chance of SEC approval, and market data suggests over 99% odds by 2025. SOL trades near $168, testing technical support after a rising wedge breakdown. Traders should watch SEC feedback on these S-1 amendments and staking ETP proposals – approval could spur a bullish breakout, boosting short-term volatility and long-term adoption.
Bullish
The amended S-1 filings and staking proposals signal growing regulatory readiness for a Solana ETF. High SEC approval odds and precedent from Bitcoin and Ethereum ETFs support a positive market outlook. Short term, traders may see increased volatility as SOL price tests technical support around $168. In the long term, ETF approval and staking yield options could drive broader investor demand, reinforcing bullish momentum for SOL.