16.06.2025 14:09

CoinShares, a prominent digital asset manager, has submitted a registration statement for a spot Solana exchange-traded fund (ETF) to the U.S. Securities and Exchange Commission (SEC). This bold move places them among several other large financial institutions vying for SEC approval, a race significantly fueled by recent regulatory optimism.

The filing follows a flurry of amended applications from major players, reflecting a proactive response to SEC feedback. Bloomberg analysts have even suggested a remarkable 90% probability of SEC approval, significantly boosting market confidence. This heightened optimism stems from institutional investors increasingly recognizing Solana's attractive features: its notably fast transaction speeds, low costs, and robust staking mechanisms. The announcement triggered a positive market response, with the price of SOL, Solana's native token, surging over 5%.

Adding to the momentum, CoinShares' entry into the Solana ETF arena intensifies the competition among asset managers. The firm's application, officially designated as a Form S-1 filing, outlines a continuous offering under Rule 415, highlighting a long-term commitment. According to internet sources, this brings the total number of active Solana ETF applications to at least eight, demonstrating a significant surge in institutional interest in gaining regulated access to Solana.

This wave of activity builds on the recent coordinated effort of six other large firms—including VanEck, Grayscale, Fidelity, Franklin Templeton, Bitwise, and Canary—who submitted amended S-1 forms last week. This synchronized action underscores the collective anticipation of a favorable regulatory outcome within the coming weeks, focusing attention on Solana's potential as a catalyst for broader cryptocurrency ETF adoption. The increased activity suggests a possible summer approval window for several of these applications.