Seven Asset Managers File Amended S-1 Registration Statements for Solana ETFs
Seven asset managers filed amended S-1 registration statements for Solana spot ETFs with the SEC. The firms include Grayscale, VanEck, Bitwise, Canary Capital, Franklin Templeton, Fidelity, and CoinShares.
- Grayscale's filing indicates a 2.5% management fee payable in SOL tokens.
- The filings reflect active engagement with the SEC amid rising interest in cryptocurrencies beyond Bitcoin and Ethereum.
- Bloomberg analysts estimate a 90% chance of SEC approval for a Solana ETF, while Polymarket data shows over 99% likelihood for 2025.
- CoinShares has also applied for a Solana Staking ETF to allow passive income through staking rewards.
- Advocacy groups are pushing for permitting liquid staking in Solana-based ETPs.
Currently, Solana trades at $168.59 after testing support levels. If the price breaks below the wedge formation, it may revisit the $150-$155 area. A close above $180 could reverse this trend.
SOL Price Chart with Wedge | Source: TradingView