No less than seven asset managers have filed amended registration statements for his or her proposed spot Solana ETFs with the U.S. Securities and Change Fee as potential approval attracts nearer.
As of August 1, companies together with Bitwise, Canary Capital, Constancy, CoinShares, Grayscale, Franklin Templeton, and VanEck have submitted updates to their S-1 registration statements.
What’s an amended S-1 registration?
For these unaware, an S-1 is a doc filed with the SEC that corporations use to register new securities for public providing. Within the case of spot Solana ETFs, these filings function the formal proposal to launch a brand new fund that will provide direct publicity to SOL, the native token of the Solana blockchain.
These registration statements define essential info such because the fund’s construction, aims, charges, custodianship, and danger components.
Amending the S-1 usually displays suggestions from the SEC or inner changes by the issuer. The modifications would possibly embody clarifications on creation and redemption procedures, disclosures about potential staking of SOL, or updates to custodian preparations.
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Whereas the current amendments weren’t substantial in content material, in accordance with market analyst Nate Geraci, they point out that each issuers and regulators are working towards consensus on key language and structural particulars.
Probably not… however clearly dialogue w/ SEC and issuers are refining prospectus language.
Gotta assume charges in neighborhood of btc & eth ETFs.
— Nate Geraci (@NateGeraci) July 31, 2025
Will Solana ETFs be accredited?
As soon as issuers file or amend their S-1s, the SEC opinions the paperwork and supplies feedback. Issuers should then reply and doubtlessly submit additional updates. The method continues till the SEC deems the proposal passable.
For a spot ETF to launch, each the S-1 and a separate 19b-4 submitting—proposing a rule change to checklist the ETF on a nationwide change—should be accredited. Some issuers have already filed their 19b-4s, whereas others are anticipated to take action shortly.
Final month, unnamed sources claimed the fee had requested issuers to submit revised filings addressing points like in-kind redemptions and staking.
The SEC was additionally mentioned to be reviewing how issuers plan to deal with in-kind redemptions and whether or not staking will likely be integrated into the ETF construction.
On July 30, the SEC accredited in-kind creation and redemption for all spot Bitcoin and Ethereum ETFs, lending credibility to earlier experiences {that a} Solana ETF approval is also on the horizon. If that occurs, Solana ETFs may additionally undertake in-kind redemption buildings from the outset.
As for timing, the SEC usually responds to amended S-1 filings inside two to 4 weeks. Given the procedural tone of the most recent updates and experiences of lively dialogue, a remaining resolution on the primary Solana ETF approvals may arrive by late August or September, forward of the October deadline.
At press time, bettors on Polymarket had been nearly sure that Solana ETFs will likely be getting accredited by the top of 2025.
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