CoinShares Joins the Frenzy with Spot Solana ETF and Staking Plans

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In a move that has all the subtlety of a sledgehammer, CoinShares has thrown its hat into the already overcrowded ring of spot Solana exchange-traded funds (ETFs) in the United States. The digital asset manager—never one to shy away from a competition—has submitted a Form S-1 registration statement to the US Securities and Exchange Commission (SEC), effectively declaring its intention to list a spot Solana ETF for public trading. Oh, how thrilling.

For those unfamiliar with the bureaucratic ballet that is SEC filing, this gem was sent through the EDGAR system, where CoinShares Co. gleefully announces itself as the fund’s sponsor. Meanwhile, Coinbase Custody and BitGo Trust have been designated the unenviable task of safeguarding the underlying SOL tokens—because who doesn’t want to be the keeper of digital riches?

CoinShares Takes Staking to New Heights, Literally

And now for the pièce de résistance—staking. CoinShares, in a truly novel move (for a market filled with innovation), plans to stake a portion of its SOL holdings through undisclosed partners. The thrill of secrecy, right? Of course, all staking rewards earned by the fund will be reinvested, ensuring that this otherwise passive, price-tracking vehicle has a little bit of extra oomph. How daring! Will the SEC approve? Only time will tell, but let’s keep those fingers crossed.

CoinShares is, unsurprisingly, not the only one in this game. Seven other firms, including the likes of VanEck, 21Shares, and Grayscale Investments, have all jumped on the bandwagon, each looking to launch their own mirror of SOL’s price. I mean, why wouldn’t they? Solana, the sixth-largest cryptocurrency by market capitalization, seems like the obvious candidate for institutional investment—right?

The SEC Finally Wakes Up: Could the Crypto ETF Wave Be Coming?

The timing of CoinShares’ application coincides with the whispers that the SEC might—just might—be relaxing its rigid stance on crypto spot ETFs. Who knows? Perhaps the SEC has suddenly developed a fondness for blockchain. Recently, other asset managers, like VanEck and Franklin Templeton, amended their filings at the SEC’s request, adding a few more juicy details about in-kind redemptions and staking strategies. The message? Regulators might just be coming around to the idea of staking—well, maybe.

Not to be outdone, Trump Media & Technology Group’s Truth Social platform has decided to jump in with its own ETF proposal. Yes, you read that right. A Bitcoin and Ethereum ETF, with a thrilling 75% allocated to Bitcoin and the rest to Ethereum. Because what could go wrong? Filed under Form S-1, this ETF would be sponsored by Yorkville America Digital LLC, which has the flexibility to tweak the asset allocation ratio—because flexibility is always a good thing, right?

Meanwhile, there’s more ETF action in the crypto futures market, courtesy of Volatility Shares and ProShares. The frenzy is undeniable, and it’s clear that investor demand and regulatory shifts are driving the crypto ETF market toward the inevitable conclusion: even more filings, more confusion, and likely, more drama.

Featured image created with DALL-E, Chart from TradingView

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2025-06-17 12:15