Multiple applications for Solana exchange-traded funds (ETFs) featuring staking may gain US approval by mid-October, according to ETF analyst Nate Geraci, following new regulatory submissions.
“I believe these will be approved [within the] next two weeks,” Geraci, president of NovaDius Wealth Management, noted in a post on X this past Friday.
Geraci mentioned that asset managers such as Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital all submitted revised S-1 filings for spot Solana (SOL) ETFs to the US Securities and Exchange Commission (SEC) on Friday. The S-1 form is a detailed disclosure that covers the company’s financial status, risk profile, and the securities they plan to offer.
First Solana staking ETF launched recently in the US
This development follows the launch of the REX-Osprey Solana Staking ETF on the Cboe BZX Exchange just over two months ago, which achieved $33 million in trading volume and $12 million in inflows on the day of its debut.
Asset managers at Pantera Capital have recently referred to SOL as being “next in line for its institutional moment,” pointing to its under-allocation compared to Bitcoin (BTC) and Ether (ETH).
Geraci indicated that the upcoming month could prove crucial for the crypto market, referencing recent developments such as the filing for the first Hyperliquid (HYPE) ETF and the SEC’s approval of generic listing standards for crypto ETFs.
“Prepare for October,” Geraci stated.
In the meantime, Bitwise Invest’s chief investment officer Hunter Horsley pointed out in a post on X that Europe’s Bitwise Solana staking ETP attracted $60 million in inflows over the past five trading days. “Solana is on people’s minds,” Horsley remarked.
Analysts from Bitfinex recently indicated that altcoins might not experience a widespread, significant rally until additional crypto ETFs are approved, offering investors lower-risk exposure.
Staking in filings signals positive outlook for spot Ether ETFs
The inclusion of staking in the latest US ETF filings “bodes well for spot ETH ETF staking,” Geraci noted as well.
Related: Solana needs three catalysts to push SOL beyond $200 toward $250
Many industry participants have recently echoed this sentiment. Markus Thielen, head of research at 10x Research, informed Cointelegraph that staking for Ethereum ETFs would enhance yields and could “dramatically reshape the market.”
US ETF issuers continue to await SEC approval to allow Ether ETFs to incorporate staking, having submitted several requests for permission earlier this year.
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