Solana: Staking ETFs to launch in the next 14 days
- Several applications for Solana exchange-traded ETFs with staking could be approved in the US by mid-October, according to ETF analyst Nate Geraci, following new regulatory filings.
- “I expect these to be approved within the next two weeks,” said Geraci, president of NovaDius Wealth Management, in an X-post on Friday.
- Geraci noted that asset managers Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital have all filed amended S-1 documents for the Spot Solana ETF with the SEC.
- This comes just over two months after the debut of the REX-Osprey Solana Staking ETF on the Cboe BZX Exchange, which recorded $33 million in trading volume and $12 million in inflows on its launch day. While the ETF offers a fund-of-funds-like, indirect solution, the new investment products are designed to track SOL directly.
- Geraci suggested that the next month could be crucial for the crypto market, citing recent events such as the first filing for a hyperliquid ETF and the SEC's approval of general listing standards for crypto ETFs. “Get ready for October,” Geraci said.
- On Friday, Bitwise Invest Chief Investment Officer Hunter Horsley noted in an X-post that the European Bitwise Solana Staking ETP had seen $60 million in inflows over the past five trading days. “Solana is on people's minds,” Horsley concluded.
- Some analysts are currently expecting a year-end rally for Solana, partly due to ETF momentum and the new SOL treasury companies.
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Sources
- Nate Geraci | X
- Hunter Horsley | X
