CoinShares, a leading European digital asset manager, has officially joined the growing list of firms seeking approval to launch a spot Solana ETF in the United States. The company filed a Form S-1 registration statement with the U.S. Securities and Exchange Commission (SEC) — a necessary first step in bringing such a fund to market.
The proposed fund, dubbed the CoinShares Solana ETF, would track the price of Solana (SOL) — currently the sixth-largest cryptocurrency by market cap.
Staking Built Into the Fund
One major highlight of the filing is CoinShares’ plan to integrate staking into the ETF. According to the filing:
“The Sponsor will stake, or cause to be staked, a portion of the Trust’s SOL through one or more trusted staking providers…”
The ETF will receive rewards from staking, creating an additional yield component beyond price appreciation. While CoinShares has not disclosed its primary staking provider, Coinbase Custody and BitGo Trust have been named as custodians for the fund.
This is the first Solana ETF filing to officially detail a staking structure, reflecting a trend among issuers to offer added benefits in line with native blockchain features.
Eight Issuers Now Competing for Spot SOL ETF Approval
CoinShares is the eighth applicant to pursue a spot Solana ETF, joining a wave of institutional interest. Other filers include:
- VanEck
- Fidelity Investments
- 21Shares
- Bitwise
- Franklin Templeton
- Grayscale Investments
- Canary Capital
These asset managers have submitted similar S-1 registration statements, with recent updates addressing in-kind redemption models and staking language, as requested by the SEC.
Approval Outlook: Growing Confidence Among Analysts
According to ETF analysts, Solana and Litecoin have the highest chances of getting SEC approval among non-Bitcoin and Ethereum assets.
Bloomberg’s Eric Balchunas stated that approvals could be issued within two to four months, depending on the SEC’s pace. The agency has historically favored a “first-to-file” approach, which may offer CoinShares a timing advantage if the review process accelerates.
Following the successful launches of spot Bitcoin and Ethereum ETFs earlier, the crypto ETF market is expanding rapidly, with new proposals for XRP, Dogecoin, Cardano, and more.
Conclusion: A New Era for Solana Exposure
CoinShares’ entry marks a major step forward in mainstream investment access to Solana. If approved, the CoinShares Solana ETF could offer investors regulated exposure to SOL, with the added benefit of staking rewards.
The race for a spot Solana ETF is heating up, and CoinShares’ filing signals increasing institutional momentum behind one of crypto’s top Layer 1 blockchains.
Disclaimer
This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.