Several asset managers have revised their filings for Solana exchange-traded funds, signaling forward movement toward potential approval from the U.S. Securities and Exchange Commission.
This week, several leading financial firms, including Fidelity, Bitwise, Franklin Templeton, Grayscale, CoinShares, Canary Capital, and VanEck, submitted revised proposals to the U.S. SEC as part of a renewed bid to introduce spot Solana ETFs.
The updated S-1 registration statements reflect what market observers interpret as constructive engagement between issuers and the SEC.
In a post on X, Nate Geraci, president of NovaDius Wealth, noted that the amendments are relatively minor. However, he suggested they reflect a back-and-forth process aimed at refining prospectus language and meeting regulatory expectations.
Grayscale Discloses Fee Structure
For context, Grayscale stated that it intends to charge a 2.5% management fee for its Solana fund, payable not in fiat, but directly in SOL tokens. This approach aligns with Grayscale’s broader crypto-native strategy and offers a potential differentiator in an increasingly crowded ETF landscape.
Growing Pipeline of Crypto ETF Proposals
Beyond firm-level adjustments, the SEC is reviewing a growing number of crypto ETF applications. These include ETFs not only for Solana but also for assets such as XRP and Dogecoin.
As more proposals advance to the review stage, industry analysts believe that approval of even a single fund could pave the way for broader acceptance of digital asset investment products.
SEC Warms to Crypto Under New Leadership
The growing number of ETF applications is unfolding alongside broader policy updates from the SEC. Earlier this week, the agency approved in-kind redemptions for both Bitcoin and Ethereum spot ETFs. It also raised options limits for Bitcoin funds.
Building on the regulatory momentum, SEC Chair Paul Atkins introduced a new initiative dubbed “Project Crypto” on Thursday. The initiative, aimed at overhauling the agency’s outdated digital asset framework, marks a significant policy shift.
Most notably, Atkins stated that “most crypto assets are not securities”, a reversal from previous SEC positions that could open the door to broader ETF approvals across the crypto market.
This change in regulatory tone also reflects the Trump administration’s more accommodating stance toward digital assets. Industry watchers believe such a climate could accelerate approvals for a wide range of crypto ETFs.
Solana Price Snapshot
Amid ETF-related developments, Solana (SOL), the sixth-largest cryptocurrency by market capitalization, has shown mixed performance. As of press time, it was trading at $170.10, marking a 6% decrease over the past 24 hours and a 5% decrease over the past week. Despite short-term volatility, the token remains up 14.1% over the past month, trading within a broad range of $121 to $204.
DisClamier: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.
