Solana Attracts Institutional Interest as Asset Managers Update ETF Filings
Major asset managers, including Franklin Templeton, Grayscale, VanEck, and Fidelity, have amended their spot Solana ETF filings with the SEC. These updates include staking provisions and enhanced custodianship structures.
Key Developments
- At least seven asset managers revised S-1 registration statements for Solana-based ETFs as of August 1.
- Grayscale's proposal includes a 2.5% annual fee in SOL.
- VanEck’s ETF offers active staking rewards and dual custodianship.
- These amendments align with SEC expectations following approvals for Bitcoin and Ethereum ETFs.
- A decision on Solana ETFs may occur by late August or September 2025.
SOL Price Movement
Following the ETF filings, the price of Solana dropped over 3%, closing at $170.24. This suggests cautious trading amid market uncertainty. Key support levels are at $170 and $158. A close above $180 could indicate bullish sentiment; below $158 may lead to a deeper correction toward $145 or $130.
Potential Impact of ETF Approval
- SEC approval could legitimize Solana as a mainstream investment asset.
- Increased market liquidity and institutional adoption likely.
- With over $60 billion in staked SOL, Solana is positioned to benefit from regulatory clarity.
Investors should monitor developments closely in Washington, as the situation may precede significant price movements for SOL.