Major Issuers Amend Solana ETF Applications, Approval Expected Soon
- Grayscale, Fidelity, and Bitwise have filed amendments for their Solana ETF applications, incorporating staking provisions.
- ETF analyst Nate Geraci predicts approval could occur within two weeks due to the SEC’s improved efficiency in processing digital asset products.
- Recent filings allow ETFs to earn rewards from Solana’s proof-of-stake mechanism, enhancing net asset value (NAV) for shareholders.
- Bitwise’s European Solana staking ETP attracted $60 million in inflows in its first week, while REX-Osprey’s SOL + Staking ETF recorded $10.6 million in a single day.
- REX-Osprey restructured its Solana ETF to a regulated investment company for potential tax efficiency.
The recent amendments signal increased movement among issuers and the SEC regarding ETFs. With growing institutional demand for Solana products and regulatory shifts favoring digital assets, these developments are pivotal for market participants.
As approvals may arrive by early October, the momentum is evident with significant inflows into related products like Bitwise’s ETP and REX-Osprey’s ETF.(Source)
