- Multiple Solana ETFs could win SEC approval in the next two weeks, boosting institutional access.
- Major firms, including Fidelity, VanEck, and Grayscale, filed amended S-1s in anticipation of approval.
According to industry experts, several Solana-based ETFs could be approved for trading in the next two weeks. ETF expert Nate Geraci anticipates that approval for three or more of the pending applications could be imminent, potentially triggering significant market developments across the cryptocurrency sector.
Major Asset Managers Submit Updated Filings
On Friday, seven major investment firms submitted amended documentation to US regulators simultaneously, indicating that they were preparing in concert to expect approval decisions. Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck and Canary Capital all filed amended S-1s. These detailed disclosure reports provide financial information, risk analysis, and particular securities offerings on their proposed Solana investment products.
The timing is after a successful precedent set by the first of its kind Solana staking ETF launched by REX-Osprey, which debuted two months ago on the Cboe BZX Exchange. This was the first product to show good investor demand, with a trading volume of $33 million and net inflows of $12 million. The favourable response confirmed the market need for institutional-grade Solana exposure in traditional investment vehicles.
Markets in Europe have exhibited a strong demand for Solana-based products, as shown by Bitwise’s European staking ETP attracting an astonishing $60 million of investment in just five days of trading. This has further added to the conviction of analysts about upcoming approvals from the U.S. and the opportunity for institutional adoption at a larger scale.
Recently, Pantera Capital representatives emphasized the institutional investment opportunity of Solana, noting under-allocation relative to Bitcoin and Ethereum positions. This placement implies that it can be a highly capitalized entity when the regulatory restrictions are lifted to allow mainstream investment entry.
The regulatory trends are not isolated to Solana, which can positively impact the entire cryptocurrency industry by improving institutional involvement. The recent SEC approval of generic crypto ETF listing standards opens up smooth avenues to future digital asset products, and it lowers uncertainty on regulation to asset managers.
These approvals are expected to lead to more altcoin market momentum, especially as conservative investors have easier access to other cryptocurrencies. The fact that these filings include staking capabilities also enhances the future of Ethereum ETF staking features, which are yet to be approved by the regulators.
October seems like a month where cryptocurrency ETF growth is poised to take off, with several applications on the final approval process at the same time.
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Source: https://thenewscrypto.com/solana-staking-etfs-expected-to-gain-us-approval-soon/
