A growing list of institutional heavyweights, including Bitwise, Fidelity, Franklin Templeton, and others, are intensifying their push for Solana ETFs.
Seven asset managers submitted amended S-1 registration statements for Solana spot exchange-traded funds (ETFs) with the Securities and Exchange Commission (SEC) this week.
The updated filings from Grayscale, VanEck, Bitwise, Canary Capital, Franklin Templeton, Fidelity, and CoinShares suggest active engagement with the SEC as interest in cryptocurrencies beyond Bitcoin BTC $113 720 24h volatility: 0.8% Market cap: $2.26 T Vol. 24h: $51.30 B and Ethereum ETH $3 498 24h volatility: 3.4% Market cap: $422.22 B Vol. 24h: $31.25 B skyrockets.
Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck have filed amended S-1 registration statements with the SEC for Solana spot ETFs. Grayscale’s filing shows the fund plans to charge a 2.5% fee, paid in SOL. In addition, the CoinShares Solana…
— Wu Blockchain (@WuBlockchain) August 1, 2025
SEC and Asset Managers in Serious Dialogue
Bloomberg’s Eric Balchunas and ETF Store’s Nate Geraci stated that this series of amendments is a sign that ETF issuers and the SEC are in serious dialogue.
Not really… but clearly dialogue w/ SEC and issuers are refining prospectus language.
Gotta think fees in neighborhood of btc & eth ETFs.
— Nate Geraci (@NateGeraci) July 31, 2025
According to them, the ETF space is maturing with the SEC recently approving in-kind redemptions for spot BTC and ETH ETFs, paving the way for more flexible fund structures. Such an environment could benefit the case for altcoin investment products.
The Bloomberg analysts estimate a 90% chance of SEC approval for a spot Solana ETF, though ETF variants including staking features remain under regulatory scrutiny. Polymarket data shows more than 99% chances of approval of a spot SOL ETF in 2025.
NEW: @EricBalchunas & I are raising our odds for the vast majority of the spot crypto ETF filings to 90% or higher. Engagement from the SEC is a very positive sign in our opinion pic.twitter.com/5dh8G8rK6Y
— James Seyffart (@JSeyff) June 20, 2025
CoinShares Quietly Applies for SOL Staking ETF
CoinShares also submitted a filing for a Solana Staking ETF in Delaware, allowing investors to earn passive income via staking rewards. If approved, this could be a one-of-a-kind offering for US-based investors.
Meanwhile, advocacy groups including Jito Labs, Multicoin Capital, and the Solana Policy Institute have requested the SEC to permit liquid staking in Solana-based ETPs. This will maintain token liquidity while securing the network.
It is also important to note that Grayscale’s filing stands out because instead of charging traditional management fees in dollars, the firm intends to take its 2.5% fee in SOL tokens.
SOL Price Analysis: What’s Next?
Solana’s price currently trades at $168.59, following a rejection from the upper boundary of a rising wedge, as per the chart below and data provided by CoinMarketCap. After testing the wedge’s support line, SOL is resting just above horizontal support in the $165–168 zone.
SOL Price Chart with Wedge | Source: TradingView
If the wedge completes its full breakdown, SOL could revisit the $150–155 area, a historical demand zone that also acted as a base for June’s rally. However, a close back above $180 could invalidate the breakdown and restart the uptrend.
Meanwhile, momentum indicators like MACD, RSI, and BoP suggest that the bullish momentum is waning as SOL price enters the cool-off zone. A confirmed ETF approval could trigger a significant breakout, regardless of short-term corrections, making SOL one of the best crypto to buy.
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