Solana ETFs Could Be Closer Than You Think – Here’s Why
Another busy week for Solana ETF hopefuls has unfolded, with at least eight major asset managers updating their applications on Friday.
The list includes VanEck, Franklin Templeton, Canary/Marinade, Grayscale, 21Shares, Fidelity, Bitwise, and CoinShares — all of whom are vying to bring the next altcoin ETF to U.S. markets.
These filings mark the second consecutive Friday that issuers have revised their paperwork. Just last week, several of the same firms made changes to their proposed XRP ETFs. The latest amendments mainly focus on redemption mechanics, with issuers seeking flexibility to process redemptions either in cash or directly in Solana, a feature that could boost appeal among institutions.
Bloomberg’s James Seyffart noted that the wave of updates reflects an active dialogue between issuers and regulators. “It’s not a bad sign at all,” he said, pointing out that such back-and-forth usually indicates progress rather than delay.
For now, the only spot Solana ETF live in the U.S. is the REX-Osprey SOL + Staking ETF, which launched on July 2 through a regulatory workaround. Despite being first to market, the fund hasn’t yet drawn significant inflows, especially compared to the blockbuster success of Bitcoin and Ethereum ETFs, which have pulled in billions since launch.
Still, with heavyweight managers circling Solana and refining their applications, anticipation continues to build that the SEC could eventually give the green light — opening the door for the token to join BTC and ETH in America’s growing crypto ETF ecosystem.
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Alex is Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
