Solana could soon join Bitcoin and Ethereum in the US exchange-traded fund (ETF) market. Several major asset managers—including Franklin Templeton, VanEck, Fidelity, 21Shares, Grayscale, CoinShares, Bitwise, and Canary Capital—have amended their Solana ETF filings with the Securities and Exchange Commission (SEC), signaling that discussions with regulators are progressing.
NEW: A bunch of updated Solana ETF filings are being sent to the SEC. So far this afternoon we have Canary/Marinade, Franklin, and VanEck. Expecting the others to file over next couple hours. Likely just indicates positive back and forth between these issuers and the SEC pic.twitter.com/GSWZQuDZ6T
— James Seyffart (@JSeyff) August 29, 2025
The updated submissions, filed on August 29, suggest issuers are actively addressing SEC feedback in hopes of securing approval for the first Solana-based spot ETF.
Analysts See Strong Odds of Approval
Bloomberg ETF analyst James Seyffart said the revisions show that firms are in “constructive dialogue” with the SEC. Analysts now put the chance of approval above 90%, pointing to the regulator’s willingness to work through amendments rather than issue blanket rejections.
The SEC faces mid-October deadlines for final decisions on several filings. If approved, Solana ETFs could mark the next major step in bringing digital assets into mainstream investment portfolios.
$8 Billion in Potential Inflows
Market forecasts suggest Solana ETFs could attract more than $8 billion in investor inflows once trading begins. The bullish outlook reflects Solana’s rapid shift from a fast-growing blockchain to an institutional-grade asset.
That demand is already evident. The REXShares Solana Staking ETF, launched in July, has pulled in consistent capital. On August 29 alone, it added $11 million, bringing assets under management to $200 million for the first time.
Bloomberg’s Eric Balchunas noted that REX is restructuring the fund as a registered investment company, a move expected to reduce tax inefficiencies and make it more competitive when spot Solana ETFs hit the market.
Solana’s Growing Role in Institutional Portfolios
These developments highlight how quickly Solana has entered the mainstream investment conversation. While Bitcoin and Ethereum remain the dominant players in crypto ETFs, Solana is increasingly seen as a third pillar for diversified exposure.
With amended filings in play and SEC deadlines approaching, asset managers are preparing to position Solana alongside Bitcoin and Ethereum as a core offering in the next wave of US-listed crypto ETFs.
