Multiple applications for Solana exchange-traded funds (ETFs) featuring staking may secure US approval by mid-October, as noted by ETF analyst Nate Geraci in light of new regulatory filings.
“I expect these will be approved [within the] next two weeks,” Geraci, president of NovaDius Wealth Management, stated in an X post on Friday.
Geraci highlighted that firms like Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital submitted revised S-1 documents for spot Solana (SOL) ETFs to the US Securities and Exchange Commission (SEC) on Friday. The S-1 document serves as a detailed disclosure detailing the company’s financials, risk profile, and proposed securities.
First Solana staking ETF recently debuted in the US
This follows the REX-Osprey Solana Staking ETF launch on the Cboe BZX Exchange just over two months ago, which recorded $33 million in trading volume and $12 million in inflows on its opening day.
Asset managers from Pantera Capital recently referred to SOL as “next in line for its institutional moment,” due to its under-allocation in comparison to Bitcoin (BTC) and Ether (ETH).
Geraci indicated that the upcoming month could be pivotal for the crypto market, referencing events like the initial Hyperliquid (HYPE) ETF filing and the SEC’s approval of generic listing standards for crypto ETFs.
“Prepare for October,” Geraci mentioned.
Meanwhile, Bitwise Invest’s chief investment officer Hunter Horsley noted in an X post on Friday that Europe’s Bitwise Solana staking ETP experienced $60 million in inflows over the last five trading days. “Solana is on people’s minds,” Horsley stated.
Analysts from Bitfinex recently suggested that altcoins might not experience a significant rally until more crypto ETFs are approved that enable further risk exposure for investors.
Inclusion of staking in filings is a positive sign for spot Ether ETFs
The addition of staking in the recent US ETF filings “is favorable for spot ETH ETF staking,” Geraci further noted.
Related: Solana needs three catalysts to push SOL beyond $200 toward $250
Several industry experts have echoed similar views. Markus Thielen, head of research at 10x Research, told Cointelegraph that staking for Ethereum ETFs would enhance yields and could “dramatically reshape the market.”
US ETF issuers continue to await SEC approval for Ether ETFs to incorporate staking, having submitted multiple requests for authorization earlier this year.
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