Sec Approves 21Shares Solana Spot Etf – Sol To $300 Next?

What Happened

The U.S. SEC has approved the Form 8-A (12B) filed by asset manager 21Shares to custody the Solana Spot ETF. This long-awaited approval has reignited bullish sentiment, with traders eyeing a potential SOL rally to new all-time highs above $300.

However, the U.S. government shutdown has temporarily halted SEC reviews of S-1 filings required for Solana and other spot crypto ETFs to launch.

Multiple SOL ETFs are positioned to launch once the government reopens or exchanges proceed independently.

While U.S. investors await a regulated Solana investment vehicle, the world’s first spot Solana ETF has launched in Hong Kong following the successful debuts of Bitcoin and Ethereum spot ETFs.

In a post on X, Geraci noted that Franklin Templeton, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary Capital have all filed updated S-1 documents for their proposed spot Solana ETFs.

Digital asset investing company Pantera Capital says Solana (SOL) is at a major inflection point in its adoption as the third-largest crypto asset after Bitcoin and Ethereum.

With decisions regarding SOL ETF launch and the broader market, “Solana could not only gain further grounds on ETH in the Layer 1 arms race but also soar as high as $300 by Q1 2026”, Youseff added.

Market Context

The 21Shares Solana ETF ($SOL) is now officially registered on the Cboe BZX Exchange, indicating the product could begin trading soon.

The product, created by China Asset Management Company (Hong Kong), widely known as ChinaAMC (HK), officially began trading on October 16, 2025.

Market confidence in a SOL rally towards $300 is now high, with Polymarket showing 99% odds favoring Solana ETF approval before the end of 2025.

This level coincides with a key high-volume node (HVN) and sits just above the 200-day EMA (purple line).

Why It Matters

Issuers, including Bitwise and Grayscale, have withdrawn, delaying amendments, meaning their applications could technically become effective after 20 days.

Wave of U.S. Solana Spot ETF Approvals Expected

ETF analyst Nate Geraci now believes several other Solana exchange-traded fund (ETF) proposals, some including staking, could receive approval from U.S. regulators before the end of October.

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

Geraci speculated that approvals could arrive within the next two weeks, calling October a pivotal month for digital asset products.

The prior impulsive move to $244 marked Wave 1, followed by a corrective structure that has likely bottomed around the $166–$180 range.

Details

While 19b-4 approvals were processed under the Generic Listing Standards, funds still need registration under the 1933 and 1934 Acts.

Still, listings also require Form 8-A filings and exchange clearance; only 21Shares has completed this step so far.

Data from Coingecko also reveals that Solana digital asset treasury (DAT) companies have been accumulating SOL aggressively.

Ray Youssef, CEO of NoOnes, told CryptoNews that DATs such as Forward Industries and Helius have allocated over $2 billion to SOL accumulation, leading to an over 230% increase in treasury holdings in September alone.

Technical Analysis: SOL Eyes $260–$300 Target

On the technical front, the Solana (SOL/USDT) daily chart indicates the asset has completed an Elliott Wave corrective phase (A–B–C) and is now stabilizing near the 50% Fibonacci retracement zone around $180.

The RSI is hovering near the neutral zone, indicating fading bearish momentum and room for upside expansion.