BlockBeats News, September 28th, Several well-known asset management companies have collectively amended the Solana ETF application file, indicating that a spot Solana ETF with staking support may be listed in a matter of weeks.
This Friday, Fidelity, Franklin Templeton, CoinShares, Bitwise, Grayscale, Canary Capital, and VanEck, among other asset management companies, updated their respective Solana ETF S-1 application files, detailing staking activities. Fidelity, which manages the second-largest spot Bitcoin ETF (by assets under management), stated in the amended file that it will stake part or all of its Solana holdings to earn rewards.
This wave of file amendments follows a trend from the end of August, when multiple issuers amended their files to allow for cash and in-kind redemptions. Bloomberg ETF analyst James Seyffart pointed out that this likely means “issuers have had proactive dialogue with the U.S. Securities and Exchange Commission (SEC),” and added that “the Solana ETF may land on exchanges in the coming days or weeks.”
NovaDius Wealth President Nate Geraci also welcomed this round of amendments, seeing it as “a positive signal for spot Ethereum ETF staking” and expecting the Solana ETF to be “approved within two weeks.”
BlockBeats Note: There are legal structural and filing pathway differences between the previous REX-Osprey SOL ETF and a regular spot ETF. A normal cryptocurrency spot ETF is filed under Form S-1 under the 1933 Securities Act, while REX-Osprey used a 1940 Act to quickly launch their product, leading to regulatory uncertainty and potential compliance risks, with lower liquidity and market acceptance.
