Solana ETF Drama: Will They or Won’t They? The SEC’s Got Jokes! 😂

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So, picture this: seven hopefuls for the Solana ETF filed their S-1 statements with the US Securities and Exchange Commission (SEC) on June 13. But hold your horses! Bloomberg’s ETF guru, James Seyffart, is shaking his head and saying, “Not so fast, my friends!” 🚫

“I think there needs to be a back and forth with the SEC and issuers to iron out details, so I doubt it. If anyone remembers the Bitcoin ETF launch, there were *A LOT* of filings over the preceding couple months before launch,” Seyffart quipped on Friday. Ah, the nostalgia of endless paperwork! Who could forget? US-based spot Bitcoin ETFs finally launched in January 2024, a mere decade after the Winklevoss twins first tried to get their Bitcoin ETF off the ground in 2013. Talk about a slow burn! 🔥

“Staking language” was included in all the filings

On June 13, Fidelity Investments decided to join the party and filed its initial S-1 registration statement for its spot Solana (SOL) ETF product. Meanwhile, 21Shares, Franklin Templeton, Grayscale Investments, Bitwise Investments, and Canary Capital were busy filing S-1 amendments. Because why not add more paperwork to the mix? 📄

And let’s not forget VanEck, the first US firm to file for a spot Solana ETF back in June 2024. They were the last to submit their amended S-1 for the day. Timing is everything, right? ⏰

Seyffart chimed in, “All of them include staking language, I believe.” He also agreed with an X user’s point that “lessons learned” from past approvals could help speed things up. But alas, he noted that no such lessons apply to staking. Because why make things easy? 🙄

Meanwhile, spot Ether (ETH) ETF products are also under review to add the long-anticipated staking feature. Fingers crossed, everyone! 🤞

Seyffart mulls idea of staking approval for spot Solana and Ether ETFs simultaneously

In a twist of fate, Seyffart mused that the spot Solana ETFs “could theoretically” launch with staking at the same time the SEC gives a thumbs up to staking for the spot Ether ETFs. But, of course, he added, “But I have no insight into what will actually happen.” Classic! 😅

On April 30, Bloomberg Intelligence decided to boost its estimated odds of the SEC approving a Solana ETF in 2025 to a whopping 90%. So, there’s that! 🎉

Meanwhile, in January, Consensys founder Joe Lubin told CryptoMoon that Ether ETF issuers were hopeful that funds offering staking could “soon” be given the regulatory go-ahead. Because who doesn’t love a little optimism? 🌈

And just this Tuesday, Bloomberg’s senior ETF analyst Eric Balchunas declared, “Get ready for a potential altcoin ETF summer with Solana likely leading the way.” So, grab your sunglasses and sunscreen, folks! ☀️

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2025-06-14 04:07