Ah, the maddening dance of capitalism! Seven firms, like a pack of wolves, have pounced on the opportunity to launch a spot Solana ETF. Fidelity, Grayscale, VanEck, and Franklin Templeton – the usual suspects – have filed their S-1 statements with the U.S. Securities and Exchange Commission. And what’s the common thread among them? Staking, my friends, staking! 🤑
Fidelity, the newcomer, has submitted its first S-1 for a Solana ETP. The others, 21Shares, Bitwise, Galaxy Digital, Canary Capital, and Grayscale, have updated their proposals. VanEck, the veteran, has amended its proposal to include staking. The management fee? A mere 2.5% – a small price to pay for the promise of riches! 💸
But, as the wise men say, “don’t count your chickens before they hatch.” ETF analysts are cautioning that it’s still early days. Bloomberg’s James Seyffart, the voice of reason, points out that the process won’t be instant. The SEC will likely go through several rounds of discussions with issuers before giving the green light. 🚫
I think there needs to be a back and forth with 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.
— James Seyffart (@JSeyff) June 13, 2025
Seyffart’s words of wisdom are a reminder that the path to approval is long and winding. But, there are encouraging signs. The SEC has asked multiple issuers to update their S-1s, a sign that they’re actively reviewing the applications. 📝
Bloomberg’s Eric Balchunas, the optimist, believes that approvals could come in the next two to four months. He even dares to dream of an “altcoin ETF summer,” with Solana leading the pack! ☀️
Solana’s growing momentum is boosted by its futures being listed on the CME. The stars are aligning, and the odds are in its favor. 🤞
The SEC has only approved spot ETFs for Bitcoin and Ethereum, but Solana appears to have a stronger shot. Its trading volume, growing ecosystem, and deeper institutional interest make it a formidable contender. 🏆
Read More
2025-06-14 16:41