Major asset managers have updated their spot Solana ETF applications, signaling continued progress in talks with the SEC.
Last week, VanEck, Franklin Templeton, Grayscale, 21Shares, Fidelity, Bitwise, CoinShares, and Canary/Marinade revised their filings. A key detail in the updates is the inclusion of provisions allowing investors to redeem ETF shares in both cash and cryptocurrency. Bloomberg analyst James Seyffart noted that the revisions likely indicate a “positive feedback loop” between issuers and the SEC.
Following the approvals of Bitcoin and Ethereum ETFs, Solana has become one of the most closely watched applications. The first spot Solana ETF in the U.S., the REX-Osprey SOL + Staking ETF, launched without traditional SEC approval but failed to attract significant interest compared to Bitcoin and Ethereum ETFs, which have seen billions in inflows.
Another milestone came earlier this year in March, when Solana futures ETFs were launched. Despite these developments, SOL’s price has slipped by around 1% over the past 24 hours, reflecting ongoing weakness.
