• CoinShares files to launch first U.S. spot Solana ETF offering.

• Staking in ETF adds passive income potential for SOL investors.

• Solana price jumps 6% amid growing ETF approval optimism.

CoinShares, a leading digital asset investment firm, has taken a major step toward expanding its product offerings in the United States. On June 16, the firm lodged Form S-1 registration with the U.S. Securities and Exchange Commission (SEC), meaning that the company plans to introduce a spot Solana exchange-traded fund (ETF) that can be bought and sold publicly.

SEC May Approve Solana ETFs Within Four Months

The proposed product, the CoinShares Solana ETF, would have physical Solana (SOL) tokens in its backing. The sponsor of the fund is CoinShares Co., whereas the custodians are Coinbase Custody and BitGo Trust. It is important to mention that the fund is also planning to provide a stake of its SOL holdings, which will enable it to provide yield to the investors.

With this filing, there is an expanding surge of institutional appetite towards Solana-based ETFs. Other large asset managers (Fidelity, VanEck, Galaxy Digital, Grayscale, and Franklin Templeton) have also in the past few days recently updated their own similar SEC filings. The filing of Fidelity is the first-ever official push of a Solana ETF in the United States.

Analyst Eric Balchunas of Bloomberg ETF expects that the SEC will greenlight these ETFs in two to four months. Some issuers are also requesting a first-to-file strategy by the SEC, preferring in terms of application acceptance to the first firm to have made its application. This competition has been enhanced as companies anticipate being the first to launch a Solana ETF in the market.

This trend has seen the thrust of Solana ETF applications buoyed by the landmark inclusion of spot Bitcoin and Ethereum ETFs in the SEC earlier this year. The asset managers are since then been considering venturing into ETFs to other cryptocurrencies. Companies have also applied for Litecoin, XRP, Dogecoin, Avalanche, and Cardano ETFs, but the SEC has not approved them yet.

Solana Surges 6% Amid Rising Hopes for U.S. ETF Approval

At the time of this news, SOL is trading at $155, showing a 6% increase over the past 24 hours. The anticipation of an ETF approval is contributing to the upward price movement. As long as SEC provides the green light, Solana will become a third cryptocurrency with a spot ETF in the United States, which will further fuel the confidence of investors.

Another significant area is the staking added to the CoinShares ETF submission. Staking enables the holders of tokens to get rewards by taking part in the proof-of-stake mechanism in the blockchain. This move allows investors to earn passive income, a feature missing in earlier crypto ETFs.

Moreover, CoinShares’ new filing brings Solana closer to joining the SEC-approved ETF list. The list of high-profile participants has been steadily growing, and the market signals and regulatory activity mean that Solana ETFs are now a serious contender. A long list of ambitious sponsors, favorable market indicators, and interaction with regulators indicate that Solana ETFs are now really on the table.

Although approval is not guaranteed, many recent filings show rising optimism in both crypto and traditional finance sectors. As a result, confidence in Solana ETF approval is steadily increasing. The SEC is still considering these proposals, and because of this, there is an increasing possibility that Solana will appear in Wall Street.