Seven applicants seeking to launch Solana ETFs have submitted their S-1 registration statements to the U.S. Securities and Exchange Commission (SEC) as of June 13. Bloomberg ETF analyst James Seyffart is skeptical about a quick approval, stating that there will likely be extended discussions with the SEC and the issuers before any decision is made.
Seyffart emphasized, "I think there needs to be a back and forth with the SEC and issuers to iron out details, so I doubt it." He referenced the lengthy history of Bitcoin ETF filings, noting that a significant number of applications preceded the eventual approval for spot Bitcoin ETFs that launched in January 2024.
Among the firms filing are major players like Fidelity Investments, which filed the first S-1 for a Solana ETF, alongside amendments from well-known firms like Grayscale and VanEck. According to Seyffart, all submissions include specific language regarding staking features, a topic of increasing importance as market sentiment shifts toward DeFi capabilities.
Seyffart also speculated that the approval for Solana ETFs could coincide with the SEC’s decision on staking for spot Ether ETFs. This connection is based on the idea that the experiences learned from the approval of previous ETFs may not reflect on staking processes, making the timeline uncertain.
Rumors of an ‘altcoin ETF summer’ have begun circulating with Solana positioned as a likely frontrunner, raising interest in its future market movements. Bloomberg has recently increased its estimated odds for a Solana ETF approval to 90% by 2025, fueling excitement among investors and analysts alike.
Seyffart emphasized, "I think there needs to be a back and forth with the SEC and issuers to iron out details, so I doubt it." He referenced the lengthy history of Bitcoin ETF filings, noting that a significant number of applications preceded the eventual approval for spot Bitcoin ETFs that launched in January 2024.
Among the firms filing are major players like Fidelity Investments, which filed the first S-1 for a Solana ETF, alongside amendments from well-known firms like Grayscale and VanEck. According to Seyffart, all submissions include specific language regarding staking features, a topic of increasing importance as market sentiment shifts toward DeFi capabilities.
Seyffart also speculated that the approval for Solana ETFs could coincide with the SEC’s decision on staking for spot Ether ETFs. This connection is based on the idea that the experiences learned from the approval of previous ETFs may not reflect on staking processes, making the timeline uncertain.
Rumors of an ‘altcoin ETF summer’ have begun circulating with Solana positioned as a likely frontrunner, raising interest in its future market movements. Bloomberg has recently increased its estimated odds for a Solana ETF approval to 90% by 2025, fueling excitement among investors and analysts alike.
