Several applications for Solana exchange-traded funds (ETFs) with staking could receive US approval by mid-October, ETF analyst Nate Geraci said, following fresh regulatory filings.
โGuessing these are approved [within the] next two weeks,โ Geraci, the president of NovaDius Wealth Management, said in an X post on Friday.
Geraci noted that asset managers Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital all filed amended S-1 documents for spot Solana (SOL) ETFs to the US Securities and Exchange Commission (SEC) on Friday. The S-1 document is a comprehensive disclosure outlining the companyโs financials, risk profile, and the securities they intend to offer.
First Solana staking ETF recently launched in US
It comes just over two months after the REX-Osprey Solana Staking ETF debuted on the Cboe BZX Exchange, recording $33 million in trading volume and $12 million in inflows on launch day.
Asset managers at Pantera Capital recently called SOL โnext in line for its institutional moment,โ citing under-allocation relative to Bitcoin (BTC) and Ether (ETH).
Geraci suggested the next month could be significant for the crypto market, pointing to recent events like the first Hyperliquid (HYPE) ETF filing, and the SECโs approval of generic listing standards for crypto ETFs.
โGet ready for October,โ Geraci said.
Meanwhile, Bitwise Invest chief investment officer Hunter Horsley pointed out in an X post on Friday that Europeโs Bitwise Solana staking ETP saw $60 million in inflows over the past five trading days. โSolana on peopleโs minds,โ Horsley said.
Analysts from Bitfinex recently said that altcoins may not see a broad, outsized rally until the approval of more crypto ETFs that give investors exposure further down the risk curve.
Staking in filings is a good sign for spot Ether ETFs
The inclusion of staking into the recent US ETF filings โbodes well for spot ETH ETF staking,โ Geraci also pointed out.
Related: Solana needs three catalysts to push SOL beyond $200 toward $250
Several industry participants have recently echoed a similar sentiment. 10x Researchโs head of research, Markus Thielen, recently told Cointelegraph that staking for Ethereum ETFs would increase the yield and could โdramatically reshape the market.โ
US ETF issuers are still waiting for the SEC to allow Ether ETFs to offer staking after filing numerous requests for permission earlier this year.
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