In the United States, the approval of several exchange-traded funds (ETFs) based on Solana with staking is expected within the next two weeks. This was reported by ETF analyst and president of NovaDius Wealth Management, Nate Geraci, citing updated S-1 documents submitted to the U.S. Securities and Exchange Commission (SEC).
This is reported by Finway
Readiness for Launching Solana ETFs with Staking
Among the applicants for launching new staking ETFs on Solana are Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital. Experts estimate that after the submission of amended S-1 applications, the SEC could make a positive decision as early as mid-October.
“Another wave of S-1 amendments submitted today for spot Sol ETFs… Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, & Canary. Includes staking (yes, this promises good prospects for spot ETF staking). I assume they will be approved within the next two weeks.”
The S-1 document contains detailed information about financial performance, risk structure, and terms of securities placement. Once approved, the new ETFs with staking functionality could become available to American investors, opening new opportunities for the cryptocurrency market.
Growing Interest in Solana Among Institutional Investors
Demand for Solana among exchange-traded funds has significantly increased following the launch of the first staking ETF for this cryptocurrency by REX-Osprey on the Cboe BZX exchange. On debut day, trading volume reached $33 million, with an investment inflow of $12 million.
The successful launch confirmed experts’ expectations that Solana could become the next popular asset after Bitcoin and Ethereum, attracting institutional attention. Analysts at Pantera Capital note that capital allocation in favor of Solana remains undervalued, and this asset is “next in line” for success among major players. The dynamics of European products also indicate a growing interest in Solana.
Bitwise’s Chief Investment Officer, Hunter Horsley, reported that their European ETP on Solana attracted $60 million over the last five trading days.
According to Geraci, October could be a key month for the crypto market. He pointed to the submitted application for the Hyperliquid (HYPE) ETF and the recent SEC approval of listing standards for cryptocurrency funds. This creates conditions for expedited review and launch of new products in the market.
Experts believe that the expansion of the crypto ETF lineup could act as a catalyst for a new growth cycle of altcoins. Bitfinex emphasizes that without the emergence of lower-risk instruments, institutional investors will participate in the market only to a limited extent, which restrains potential growth. Marcus Thielen, head of 10x Research, added that the combination of ETF liquidity and staking profitability could change the game in the crypto sector.
Previously, the first spot Ethereum ETF with staking was launched in the U.S., which also marked an important step for the digital asset market.