7 Solana ETF Issuers File S-1, Analyst Doubts Next Week Approval

Seven Solana ETF candidates filed S-1 statements with the US Securities and Exchange Commission (SEC) on June 13; nonetheless, Bloomberg ETF analyst James Seyffart doubts approval will come as quickly as subsequent week.

“I think there needs to be a back and forth with the SEC and issuers to iron out details, so I doubt it. If anyone remembers the Bitcoin ETF launch, there were *A LOT* of filings over the preceding couple months before launch,” Seyffart mentioned in a put up on Friday. US-based spot Bitcoin ETFs launched in January 2024, greater than ten years after crypto trade Gemini co-founders Tyler and Cameron Winklevoss filed the primary spot Bitcoin ETF utility with the SEC in 2013.

“Staking language” was included in all of the filings

On June 13, Fidelity Investments filed its preliminary S-1 registration assertion for its spot Solana (SOL) ETF product, whereas 21Shares, Franklin Templeton, Grayscale Investments, Bitwise Investments, and Canary Capital filed S-1 amendments.

VanEck — which was the primary US agency to file for a spot Solana ETF in June 2024 — was the final to submit its amended S-1 amended submitting for the day.

Seyffart mentioned, “All of them include staking language, I believe.” While Seyffart agreed with an X person’s level that “lessons learned” from previous approvals may assist pace up the method, referring to identify Bitcoin and Ether ETFs, he mentioned that no such classes apply to staking.

It comes as spot Ether (ETH) ETF merchandise are additionally beneath assessment so as to add the long-anticipated staking function. 

Seyffart mulls thought of staking approval for spot Solana and Ether ETFs concurrently

Seyffart mentioned it’s potential that the spot Solana ETFs “could theoretically” be launched with staking on the identical time that the SEC approves staking for the spot Ether ETFs.

Related: Solana futures open curiosity hits $7.4B amid ETF hypothesis: Is $200 SOL subsequent?

“But I have no insight into what will actually happen,” Seyffart mentioned. On April 30, Bloomberg Intelligence boosted its estimated odds of the SEC approving a Solana ETF in 2025 to 90%.

Meanwhile, in January, Consensys founder Joe Lubin instructed Cointelegraph that Ether ETF issuers have been hopeful that funds providing staking may “soon” be given the regulatory go-ahead.

On Tuesday, Bloomberg senior ETF analyst Eric Balchunas mentioned, (*7*)

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