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Solana Spot ETF Nears Launch As Potential Issuers File Amended S-1 Forms With SEC

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Several leading asset managers are moving closer to launching a Solana Spot ETF following recent developments on Friday. Notably, multiple prospective issuers have now submitted amended S-1 registration statements to the US Securities and Exchange Commission, indicating an ongoing dialogue between both parties.

Solana Spot ETF Updated Filings Signal Approvals Likely

According to Bloomberg ETF analyst James Seyffart, Canary Capital/Marinade, Franklin Templeton, and VanEck were among the first to file updated forms on Friday afternoon. Additional potential issuers, including Grayscale, 21Shares, Bitwise, Fidelity, and CoinShares, also followed shortly.

Seyffart explains that these amended filings represent active dialogue and progress between the issuers and the regulator, which is often interpreted as a strong sign of impending approval. Fellow Bloomberg analyst Eric Balchunas emphasized this point, noting that the Solana Spot ETF issuer just filed 3rd amendments he describes as a “virtual lock” for an incoming approval.

Source: @JSeyff on X

Balchunas also highlighted a structural shift for Rex Shares’ Solana Spot ETF, which is converting from a C Corporation into a Registered Investment Company (RIC). This change, he explained, will eliminate tax inefficiencies and make the product more competitive within what is likely a “coming tsunami” of Solana Spot ETF launches.

Aside from Solana, issuers of the XRP Spot ETF have also recently resubmitted their S-1 registration forms, raising expectations of progress with US securities regulators. Other altcoins that could soon see spo

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Author: Semilore Faleti

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