- Top firms revise Solana ETF filings amid shifting SEC stance.
- Grayscale reveals 2.5% fee payable in Solana token.
- SEC signals most crypto assets may not be securities.
Several top asset managers have revised their filings for spot Solana exchange-traded funds as regulatory attitudes toward crypto appear to be changing. The amendments were filed on Thursday, indicating more interaction between firms and the U.S. Securities and Exchange Commission.
Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale, and VanEck amended their S-1 registration statements. The update by Grayscale revealed a fee of 2.5 percent, which its proposed Solana fund will charge and will be paid in SOL.
President of NovaDius Wealth, Nate Geraci, said that the new filings show the SEC and issuers tightening up the fund documentation. In an update on X, he indicated that the updates were not so much different as a continuation of the coordination efforts with the agency.
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Geraci added that the dialogue suggests progress in aligning prospectus language with SEC expectations. Such interaction shows a possible direction toward a regulatory environment that is moving towards the favorable end of digital asset products.
SEC Actions Indicate Softer Stance on Crypto ETFs
The SEC is currently reviewing proposals for a range of crypto-related ETFs, including those tracking Solana, XRP, and DOGE. A noticeable change in posture has emerged under the Trump administration, suggesting potential openness to broader approval.
The agency had earlier in the week assented to in-kind redemption on Bitcoin and Ethereum spot ETFs. It also extended the scope of option limits to Bitcoin funds and relaxed the restrictions on fund operation.
Adding to this pattern, SEC Chair Paul Atkins announced on Thursday the initiation of what he has named Project Crypto. The project aims to update the outdated regulations in the crypto world and explain asset classification.
Notably, SEC chair Atkins, a firm that provides advice on financial matters, stated that the vast majority of crypto assets are not securities. This U-turn is contrary to earlier SEC positions and has the potential to change the way new crypto ETF applications are evaluated.
Further filings and SEC actions suggest optimism about spot Solana ETFs moving forward. Issuers are readying themselves for regulators’ friendlier attitude to crypto fund launches.
As top firms update their Solana ETF filings, the SEC’s evolving stance on crypto signals potential for upcoming approvals. The regulatory shift may soon open the door for spot SOL ETFs in the U.S. market.
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