Solana ETFs Move Closer to Approval as SEC Reviews Amended Filings

Several leading asset managers have updated their Solana filings with the US Securities and Exchange Commission (SEC). The move comes as competition heats up to launch the first Solana-based spot exchange-traded fund (ETF).

The amendments, submitted on August 29, indicate that issuers are actively working through regulatory feedback as they attempt to replicate the path cleared by Bitcoin and Ethereum spot ETFs.

Solana ETFs Expected to Draw Over $8 billion as SEC Deadline Approaches

Bloomberg ETF analyst James Seyffart noted that the firms—including Canary Capital, Franklin Templeton, VanEck, Fidelity, 21Shares, Grayscale, CoinShares, and Bitwise—appear to be in constructive dialogue with the SEC.

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

— James Seyffart (@JSeyff) August 29, 2025

Solana ETF applications have steadily grown over the past several months, with at least 16 products awaiting review.

Some filings face deadlines for final SEC decisions by mid-October, a development that could accelerate momentum in the digital asset ETF market.

Analysts suggest the probability of approval now exceeds 90%, pointing to the SEC’s willingness to work through revisions rather than reject submissions outright.

Moreover, forecasts for inflows into these products have been significantly ambitious.

Market observers expect Solana products to attract as much as $8 billion once trading begins. They point to the network’s rapid transition into an institutional-grade asset as the demand driver.

Solana ETFs Estimated Inflows. Source: Pixel Rainbow

In fact, investors’ appetite for Solana exposure is already visible in related products.

Since its launch in July, the REXShares Solana Staking ETF has continued to attract steady inflows. On August 29, the fund added $11 million in fresh capital, pushing its assets under management above $200 million for the first time.

Notably, Bloomberg analyst Eric Balchunas noted that REX is restructuring the fund as a registered investment company.

According to him, this change is expected to reduce tax inefficiencies and strengthen its competitiveness once spot Solana ETFs launch.

Together, these developments underscore how quickly Solana has moved into the mainstream investment conversation.

With amendments filed and SEC decisions looming, asset managers are positioning the token alongside Bitcoin and Ethereum as a core component of the next wave of US-listed digital asset ETFs.