SEC’s Solana ETF Staking Twist: A 91% Chance of Crypto Gold? 🚀💰

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  • Solana ETF filings now include staking to address SEC concerns. 🤔
  • Polymarket shows 91% odds for Solana ETF approval in 2025. 🎉

The U.S. Securities and Exchange Commission’s recent delays in approving a range of altcoin ETFs have stirred up quite the crypto kerfuffle, leaving the community in a tizzy and fueling a whirlwind of speculation. 🌪️

But fear not, dear readers, for amidst the rising tide of fear, uncertainty, and doubt (FUD), a glimmer of hope shines through. Data from Polymarket suggests that several altcoin ETFs are still in the running for potential approval. 🌟

Solana ETF applicants filed an S-1 with the SEC

In a bold move to appease the ever-watchful SEC, major asset managers Bitwise, Canary, and Grayscale have taken a proactive step by amending their Solana [SOL] ETF filings to include staking. 🏃‍♂️💨

This nifty feature would allow funds to earn rewards by staking the Solana held in custody, a clever way to sweeten the deal for investors and regulators alike. 🍭

These updated S-1 filings aim to address the SEC’s concerns, but according to a source cited by Reuters, the agency seems to be in no rush to give the green light. 🚦

Bloomberg analyst James Seyffart had this to say:

“I think there needs to be a back and forth with the SEC and issuers to iron out details, so I doubt it. If anyone remembers the Bitcoin ETF launch, there were *A LOT* of filings over the preceding couple months before launch.”

Bitcoin ETF also faced the same kind of delays

While the spotlight remains on the growing number of amended Solana ETF filings, it’s worth remembering that the journey for spot crypto ETFs in the U.S. has been a long and arduous one. 🛶

Spot Bitcoin [BTC] ETFs only gained approval in January 2024, more than a decade after Gemini’s Tyler and Cameron Winklevoss first submitted their application back in 2013. 🕰️

In the case of Solana, VanEck was the first U.S.-based firm to propose a spot ETF in mid-2024, and interestingly, one of the last to revise its S-1 filing to incorporate staking provisions. 🤔

BlackRock is not into altcoin ETFs

Interestingly, BlackRock is notably absent from the Solana ETF race, and this silence has raised a few eyebrows. 🤨

Seyffart had this to say on the matter:

“They haven’t yet. But I would not be surprised if they were to eventually do that. But right now it doesn’t seem like they will be in the first wave (whenever these launch).”

Polymarket trend and SOL’s price action

Despite the SEC’s apparent lack of urgency around altcoin ETF approvals, market sentiment remains strikingly optimistic. 📈

According to Polymarket data, the odds of a Solana ETF being approved in 2025 stood at a whopping 91% at the time of reporting. 🎉

This bullish outlook seems to be reflected in Solana’s performance, with the token trading at $146.40 following a modest 0.92% daily increase, as per CoinMarketCap. 📊

While delays may suggest caution, they don’t necessarily signal denial. As ETF analyst James Seyffart aptly noted:

“Delays on spot crypto ETFs are expected. A bunch of XRP ETPs have dates in the next few days. If we’re gonna see early approvals from the SEC on any of these assets — I wouldn’t expect to see them until late June or early July at the absolute earliest. More likely to be in early 4Q.”

This shows that the lack of movement doesn’t equate to rejection, leaving the door open for approval despite regulatory hesitations. 🚪

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2025-06-14 13:19