The race to launch a Solana ETF is heating up as major asset managers revise their filings ahead of a critical month for U.S. crypto regulations. With October shaping up to be a possible turning point for digital asset ETFs, firms are positioning themselves for potential approval by the Securities and Exchange Commission (SEC).
21Shares Leads the Charge with Revised Solana ETF Filing
Asset manager 21Shares has updated its S-1 registration statement for its proposed Solana ETF, incorporating key structural changes aimed at addressing regulatory concerns. The revisions touch on several sensitive areas, including staking mechanisms, fund redemption processes, and custody arrangements—all of which are under close SEC scrutiny.
Other big players in the ETF space—Franklin Templeton, Fidelity, Bitwise, Grayscale, VanEck, Canary, and CoinShares—have also filed amendments to their Solana ETF applications. In total, at least nine Solana ETFs are currently pending with the SEC.
This wave of activity signals growing alignment with the SEC’s regulatory feedback and suggests increasing confidence that at least some of these ETFs could gain approval soon.
SEC Set to Rule on 16 Crypto ETF Applications in October
The urgency comes as the SEC prepares to review 16 crypto ETF filings this month, covering a range of popular altcoins, including Solana (SOL), XRP, Cardano (ADA), Dogecoin (DOGE), and Litecoin (LTC).
Unlike in previous cycles, the SEC has not issued delay notices for many of the applications, a move industry analysts interpret as a positive regulatory signal. With procedural hurdles already cleared in some cases, October could mark the first real opportunity for altcoin-based ETFs to break into U.S. markets.
If approved, a Solana ETF would offer investors regulated, brokerage-friendly access to one of the fastest-growing Layer 1 blockchains—without the complexities of holding crypto directly. This could open the door for wider institutional and retail participation, adding fresh momentum to both Solana’s price and overall crypto market liquidity.
