Catenaa, Monday, August 04, 2025- Several asset managers have updated registration statements for proposed spot Solana exchange-traded funds as they seek approval from the U.S. Securities and Exchange Commission.
Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale and VanEck filed amendments to their S-1 statements last week, signaling ongoing dialogue with the SEC.
Grayscale’s update disclosed it plans to charge a 2.5% fee payable in Solana (SOL) for its fund.
Market analysts said the filings show both issuers and regulators are refining prospectus language, although no substantial differences emerged in the latest amendments.
Nate Geraci of NovaDius Wealth said the changes suggest issuers are edging closer to alignment with the SEC’s expectations.
The SEC is reviewing multiple crypto fund proposals, including Solana, XRP and DOGE products, in what market participants view as a sign of a more favorable regulatory climate under the Trump administration.
The agency has recently approved in-kind redemptions for spot bitcoin and Ethereum ETFs and raised option limits for bitcoin products.
Last week, SEC Chair Paul Atkins launched “Project Crypto,” aimed at updating securities rules for digital assets, and said most cryptocurrencies should not be classified as securities, a reversal from prior guidance.
