Solana ETFs Could Be Closer Than You Think

Altcoins

Another busy week for Solana ETF hopefuls has unfolded, with at least eight major asset managers updating their applications on Friday.

The list includes VanEck, Franklin Templeton, Canary/Marinade, Grayscale, 21Shares, Fidelity, Bitwise, and CoinShares — all of whom are vying to bring the next altcoin ETF to U.S. markets.

These filings mark the second consecutive Friday that issuers have revised their paperwork. Just last week, several of the same firms made changes to their proposed XRP ETFs. The latest amendments mainly focus on redemption mechanics, with issuers seeking flexibility to process redemptions either in cash or directly in Solana, a feature that could boost appeal among institutions.

Bloomberg’s James Seyffart noted that the wave of updates reflects an active dialogue between issuers and regulators. “It’s not a bad sign at all,” he said, pointing out that such back-and-forth usually indicates progress rather than delay.

For now, the only spot Solana ETF live in the U.S. is the REX-Osprey SOL + Staking ETF, which launched on July 2 through a regulatory workaround. Despite being first to market, the fund hasn’t yet drawn significant inflows, especially compared to the blockbuster success of Bitcoin and Ethereum ETFs, which have pulled in billions since launch.

Still, with heavyweight managers circling Solana and refining their applications, anticipation continues to build that the SEC could eventually give the green light — opening the door for the token to join BTC and ETH in America’s growing crypto ETF ecosystem.

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Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.