• 9 main corporations up to date their Solana ETF submitting to incorporate statements
• The SEC’s aggressive assessment and post-election stance suggests a excessive chance of ETF approval
• Accepted SolanaETFs might drive liquidity, adoption and portfolio diversification

The race to launch the US Spot Solana (SOL) Trade-Traded Fund (ETF) has entered a decisive new stage, with all recognized candidates making considerably extra uniform modifications to their submitting. In line with analyst Martyparty, 9 monetary corporations had filed their functions within the pipeline as of July 31, 2025, every of which has been amended to incorporate a sedation provision.

Coordinated methods amongst candidates

This collection of amendments demonstrates an adjusted technique in keeping with the Securities and Trade Fee (SEC) expectations. Vanek and 21Share had been early initiators and submitted a proposal for the Solana ETF in June 2024. Each submitted in June 2025 to incorporate staking, an essential facet of Solana’s ecosystem, the place over 67% of token provide is presently locked. Analysts imagine 21 shares may see sooner approval because of earlier success in crypto merchandise.

Later entrants, together with Canary Funds, Bitise and Grayscale, adopted an analogous path. Canary ETFs are typically listed as Canary Marine Solana Belief, however they combine staking into their submitting. In the meantime, Bitwise added the staking language to its June 2025 modification and submitted the submitting of the 19B-4 rule originally of January.

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Grayscale goals to transform the present Solana Belief to ETF, dealing with delayed opinions, and is presently being prolonged till October tenth. Whereas slowing down the Grayscale course of, the SEC has acknowledged essential submissions in February and continues to debate.

Market affect and regulatory setting

A number of heavyweights, together with Franklin Templeton, Constancy, Coinshare and Invesco, have not too long ago participated within the race. All the pieces integrates staking situations and adheres to the SEC’s casual steerage issued earlier this 12 months. Investco and Galaxy Digital collectively submitted the ETF in June 2025 and submitted the paperwork for the 19B-4 simply earlier than the refile cut-off date on July thirtieth.

The SEC seems to observe a well-known roadmap much like opinions of Bitcoin and Ethereum ETFs. This contains triggering a call window for 240 days from the date of every 19B-4 submission. Nonetheless, the rising institutional curiosity in Solana, mixed with the political tailwinds in favour of digital belongings, may speed up recognition.

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Within the case of Greenlit, these ETFs can change the best way buyers entry Solana. Along with opening the door to wider institutional adoption, ETFs can promote larger liquidity and scale back the complexity of proudly owning SOLs. Furthermore, they might quickly turn out to be a key element of a diversified crypto portfolio, reflecting Solana’s peak stature within the blockchain world.