by Coinstrooper Crypto Articles
Quick Take
  • Several major asset managers filed updated S-1s for spot Solana ETFs, with potential SEC approval expected by mid-October.
  • The filings include staking features, signaling rising institutional demand and possible momentum for ETH ETF staking approvals.
  • Analysts say Solana is emerging as the next altcoin for institutional adoption, with strong inflows and growing ETF interest.
  • The comment follows a wave of amended S-1 filings submitted to the Securities and Exchange Commission (SEC) on Friday.

What Happened

Several major asset managers filed updated S-1s for spot Solana ETFs, with potential SEC approval expected by mid-October.

In a post on X, Geraci noted that Franklin Templeton, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary Capital all filed updated documents for their proposed spot Solana ETFs.

His remarks come shortly after the REX-Osprey Solana Staking ETF launched in the US, debuting on the Cboe BZX Exchange with $33 million in trading volume and $12 million in first-day inflows.

While the SEC has not yet given the green light for staking in US-listed Ether ETFs, optimism is growing among issuers and analysts that broader altcoin exposure, and the ability to generate yield, could drive a new wave of investor interest.

Market Context

The ETF momentum around Solana aligns with recent market commentary positioning SOL as the next crypto asset poised for institutional adoption.

Pantera Capital described Solana as “next in line” following under-allocation compared to Bitcoin and Ether.

Bitwise CIO Hunter Horsley added that the firm’s European-listed Solana staking ETP recorded $60 million in inflows over five trading days—evidence that “Solana is on people’s minds.”

Ether ETF applicants have long pushed for the ability to offer yield via staking, which analysts say could “reshape the market.”

Bitcoin exchange-traded products now hold over 1.47 million BTC, representing around 7% of the total supply, with U.S.-based ETFs dominating the landscape.

BlackRock’s IBIT leads with 746,810 BTC, followed by Fidelity’s FBTC at nearly 199,500 BTC, according to data from HODL15Capital.

Whale activity mirrors this shift, with several large holders rotating hundreds of millions from BTC into ETH ahead of key ETF developments and the historically weak September trading month.

Why It Matters

Several Solana exchange-traded fund (ETF) proposals, some including staking, could receive approval from US regulators by mid-October, according to ETF analyst Nate Geraci.

The filings include staking features, signaling rising institutional demand and possible momentum for ETH ETF staking approvals.

The S-1 form provides detailed disclosures on fund structure, risk, and operations.

Geraci speculated that approvals could land within the next two weeks, calling October a “significant month” for digital asset products.

Geraci also noted that the inclusion of staking language in U.S. filings may be a positive signal for the long-delayed approval of spot Ethereum ETFs with staking features.

Details

Key Takeaways:

Analysts say Solana is emerging as the next altcoin for institutional adoption, with strong inflows and growing ETF interest.

The comment follows a wave of amended S-1 filings submitted to the Securities and Exchange Commission (SEC) on Friday.

Top Asset Managers File Updated Applications for Spot Solana ETFs

Bitcoin ETFs Hold Over 1.47M BTC

However, momentum appears to be cooling. In August, Bitcoin ETPs saw $301 million in outflows, while Ethereum funds attracted $3.95 billion.

As reported, the US Securities and Exchange Commission (SEC) is currently reviewing 92 crypto ETF applications, according to Bloomberg Intelligence analyst James Seyffart.

A detailed spreadsheet published on August 28 shows most of these filings, especially those linked to Solana, XRP, and Litecoin, are facing final decisions by October.