SEC may approve Solana ETF in coming weeks: report

The U.S. Securities and Exchange Commission may approve a spot Solana exchange-traded fund within the next few months, according to multiple sources cited by Blockworks. 

The SEC has reportedly asked prospective Solana ( SOL ) ETF issuers to submit amended S-1 registration statements by next week. One source suggested an approval could arrive within three to five weeks.

Two sources told Blockworks the agency will provide comments on the updated filings within 30 days. The changes focus on two key areas: how issuers plan to handle in-kind redemptions and whether staking will be incorporated into the ETF structure. 

Notably, the SEC is said to be open to allowing staking as part of these products.

Bloomberg Intelligence analyst James Seyffart commented that approval could come as early as July, though the final deadlines for SEC decisions, based on the 240-day review period, extend to October. Seyffart said the agency may now be prioritizing 19b-4 filings related to Solana and staking ETFs sooner than originally expected.

Several asset managers are lining up to offer a Solana ETF, including VanEck, Bitwise, Fidelity, Grayscale, Franklin Templeton, Canary Capital, and 21Shares. 

Solana following Bitcoin and Ethereum ETF plans

Grayscale is aiming to convert its existing SOL Trust into a spot ETF, following the blueprint it used for its Bitcoin ( BTC ) and Ethereum ( ETH ) products. The SEC formally acknowledged Grayscale’s Solana ETF proposal in February, a significant shift given its past resistance to such filings.

While the SEC delayed its decision on Grayscale’s Solana ETF in May, it stated it had not yet reached any conclusions. The delay was seen as procedural rather than a rejection. 

Market observers took that as a positive sign, particularly after CME launched SOL futures in February, mirroring steps taken ahead of Bitcoin and Ethereum ETF approvals.

CME’s launch of SOL futures has already led to the introduction of SOL futures ETFs, including two from Volatility Shares . 

Following the historic approval of spot Bitcoin ETFs in January 2024 and Ethereum ETFs in May 2025, attention has now turned to other top digital assets like Solana. The very existence of futures markets often paves the way for spot ETF approval, as seen with BTC and ETH.