Major ETF Players Submit Solana Applications
Nate Geraci, who runs The ETF Store, shared some interesting news today about the crypto ETF space. Apparently, several big names in the investment world have filed updated applications for spot Solana ETFs. We’re talking about Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary – basically all the heavy hitters.
What caught my attention is that these applications include staking provisions. That’s significant because if regulators approve staking for Solana ETFs, it might set a precedent for Ethereum ETFs too. Investors seem to be viewing this as a positive signal that staking could eventually get the green light for Ethereum products.
Timeline Expectations and Recent Developments
Geraci made a pretty bold prediction about the approval timeline. He thinks we could see these Solana ETFs approved within the next two weeks. That’s quite aggressive, honestly, but he’s been right about these things before.
Looking back at the past couple weeks, there’s been a lot happening in the crypto ETF space. We’ve seen the first spot XRP ETF, the first Dogecoin ETF, and even the SEC approving public listing standards. There was also the first index-based spot crypto ETF and the first Ethereum staking ETF. Oh, and Vanguard has been pushing back against spot crypto ETFs, which isn’t surprising given their traditional approach.
October as a Potential Turning Point
With all these developments stacking up, Geraci believes October could be a critical month for crypto ETFs. I’m not sure if it’ll be quite that dramatic, but the pace of activity does seem to be picking up.
The staking component in these applications is particularly interesting. It suggests that issuers are thinking about how to make these products more attractive to investors beyond just price exposure. Passive income through staking could be a game-changer, though regulators might have concerns about the mechanics.
It’s worth noting that while Geraci is optimistic about the two-week timeline, regulatory processes can be unpredictable. The SEC has been cautious about crypto ETFs in general, though they’ve warmed up to the idea over time.
What strikes me is how quickly the landscape is evolving. Just a few years ago, the idea of multiple spot crypto ETFs seemed far-fetched, and now we’re talking about staking features and rapid approvals. The market seems to be maturing faster than many expected.