In the United States, the approval of several Solana-based exchange-traded funds (ETFs) with staking is expected within the next two weeks. This was stated by ETF analyst and president of NovaDius Wealth Management, Nate Geraci. In his opinion, a positive decision will be possible after the submission of updated S-1 documents to the U.S. Securities and Exchange Commission (SEC).
This is reported by Business • Media
Market Participants and New Prospects
Among the companies that have submitted applications are financial giants such as Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital. All these organizations are seeking approval to launch ETFs with staking capabilities, which could stimulate further inflows of institutional capital into the Solana sector.
The S-1 document contains detailed information about financial performance, risks, and terms of the securities offering. Its approval by the SEC paves the way for the emergence of several new staking ETFs for American investors.
“Another wave of S-1 amendments submitted today for spot sol ETFs… Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, & Canary. Includes staking (yes, this promises good prospects for spot ETF staking). I assume they will be approved within the next two weeks.”
Staking and Growing Institutional Demand
The demand for Solana among exchange-traded funds has significantly increased following the launch of the first Solana Staking ETF by REX-Osprey on the Cboe BZX exchange. On its debut day, trading volume reached $33 million, with an inflow of $12 million. Experts believe that the successful launch of this product could make Solana the next significant asset after Bitcoin and Ethereum, gaining even more attention from institutional players.
Analysts at Pantera Capital emphasize that the capital allocation in favor of Solana remains undervalued, but this cryptocurrency has every chance of becoming the next in line for large-scale institutional engagement. This is also supported by the dynamics of European investment products: Bitwise’s investment director, Hunter Horsley, reported that their Solana-based ETP in Europe attracted $60 million over the last five trading days.
According to Nate Geraci, October could be a key month for the cryptocurrency market. He also highlighted the emergence of the Hyperliquid (HYPE) ETF application and the recent SEC approval of new listing standards for cryptocurrency funds. Analysts are convinced that these changes create conditions for a faster review of new initiatives.
Market participants are confident that the expansion of the crypto-ETF lineup could act as a catalyst for the next altcoin rally. Bitfinex experts note that without access to lower-risk financial instruments, institutional investors will be forced to limit their market participation, which could hinder potential rallies. Marcus Thielen, head of 10x Research, believes that new staking funds could change the market by combining ETF liquidity with staking profitability.
Previously, the first spot Ethereum ETF with staking also entered the market in the U.S., further increasing interest in this format of investment instruments.