Seven companies submitted S-1 filings with the U.S. Securities and Exchange Commission (SEC) on June 13, signaling growing interest in launching spot Solana exchange-traded funds (ETFs). Despite the momentum, Bloomberg ETF analyst James Seyffart believes immediate approval is unlikely.
“There’s still a process ahead,” Seyffart noted on Friday. “It’s not just submit and go — issuers and the SEC need time to work through the fine print. If you recall, the lead-up to the Bitcoin ETF approvals involved numerous filings over months.”
Spot Bitcoin ETFs finally hit the market in January 2024 — more than a decade after the first application was made by Gemini founders Cameron and Tyler Winklevoss in 2013.
Staking Mentioned in Every Filing
Fidelity introduced a brand new S-1 for its proposed spot Solana ETF on June 13, while 21Shares, Grayscale, Franklin Templeton, Bitwise, and Canary Capital all updated existing applications. VanEck, which initially filed for a Solana ETF earlier in June, rounded out the day with its own amended S-1.
“All of them reference staking,” Seyffart stated. While he acknowledged that previous ETF approvals for Bitcoin and Ether might inform this process, he stressed that staking brings unique regulatory questions with no clear precedent.
The SEC is currently reviewing whether to permit staking features in Ether ETFs as well — a decision closely watched by the industry.
Could Solana and Ether Staking Be Approved Together?
Seyffart floated the idea that Solana ETFs could launch with staking features simultaneously with Ether ETFs — if the SEC gives the green light.
“That’s a theoretical possibility,” he said, while clarifying that he has no specific knowledge of the SEC’s current thinking. Bloomberg Intelligence recently raised its estimate of Solana ETF approval chances in 2025 to 90%.
Meanwhile, Consensys founder Joe Lubin said earlier this year that Ether ETF issuers remained optimistic that staking support could be authorized “soon.”
Bloomberg’s Eric Balchunas added on Tuesday, “Get ready for a potential altcoin ETF summer — and Solana looks poised to lead the charge.”
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