Grayscale, Fidelity, Others Update Solana ETF Filings With Staking as Analysts Eye $400
The race to bring a Solana exchange-traded fund (ETF) to U.S. markets is gaining momentum. Several major asset managers, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, have submitted amended S-1 filings to the Securities and Exchange Commission (SEC).
Bloomberg analyst James Seyffart highlighted the wave of updates, noting that the filings reflect active movement between issuers and regulators. Significantly, these new submissions include provisions for staking, a mechanism that could allow the ETFs to generate additional yield from on-chain participation.
Staking Becomes Central to ETF Model
The revised filings revealed that issuers intend to place Solana into designated staking accounts. By doing so, funds can earn rewards in either cash or SOL tokens, enhancing the net asset value and potentially boosting returns for shareholders.
ETF analyst Nate Geraci explained that such mechanisms make these products more attractive, especially as investors look for diversified exposure to digital assets. The staking element marks a departure from traditional ETF structures and could pave the way for broader adoption if approved.
This shift aligns with recent regulatory changes. Earlier in September, the SEC allowed Grayscale’s Ethereum products to move under a more standardized framework.
That decision reduces the need for repeated approvals on similar products, creating a faster pathway for issuers. Consequently, Geraci suggested that approvals for the Solana ETFs could arrive within the next two weeks, given the regulator’s improved efficiency.
Market Response and Whale Activity
Solana’s market price has reacted positively to the filing news, trading near $202 after a 4.8% daily gain. Despite a 14.9% pullback over the past week, investor sentiment remains constructive.
On-chain data from Lookonchain revealed that two whales deposited 277,000 SOL, worth over $54 million, to exchanges in the past three hours. This movement may reflect short-term profit-taking, though the broader market outlook leans bullish.
Price Outlook Ahead of ETF Decision
Technical levels show Solana consolidating above a strong bid zone near $190 to $195, which has previously acted as support. Analysts at iWantCoinNews suggest that holding this range could fuel a rebound toward $250 to $300.
Source:X
Should momentum continue, a push to $400 is increasingly seen as possible, particularly if ETF approval arrives mid-October. Conversely, failure to sustain the $190 threshold could trigger a deeper retracement toward $165.
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Grayscale, Fidelity, Others Update Solana ETF Filings With Staking as Analysts Eye $400
The race to bring a Solana exchange-traded fund (ETF) to U.S. markets is gaining momentum. Several major asset managers, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, have submitted amended S-1 filings to the Securities and Exchange Commission (SEC).
Bloomberg analyst James Seyffart highlighted the wave of updates, noting that the filings reflect active movement between issuers and regulators. Significantly, these new submissions include provisions for staking, a mechanism that could allow the ETFs to generate additional yield from on-chain participation.
Staking Becomes Central to ETF Model
The revised filings revealed that issuers intend to place Solana into designated staking accounts. By doing so, funds can earn rewards in either cash or SOL tokens, enhancing the net asset value and potentially boosting returns for shareholders.
ETF analyst Nate Geraci explained that such mechanisms make these products more attractive, especially as investors look for diversified exposure to digital assets. The staking element marks a departure from traditional ETF structures and could pave the way for broader adoption if approved.
This shift aligns with recent regulatory changes. Earlier in September, the SEC allowed Grayscale’s Ethereum products to move under a more standardized framework.
That decision reduces the need for repeated approvals on similar products, creating a faster pathway for issuers. Consequently, Geraci suggested that approvals for the Solana ETFs could arrive within the next two weeks, given the regulator’s improved efficiency.
Market Response and Whale Activity
Solana’s market price has reacted positively to the filing news, trading near $202 after a 4.8% daily gain. Despite a 14.9% pullback over the past week, investor sentiment remains constructive.
On-chain data from Lookonchain revealed that two whales deposited 277,000 SOL, worth over $54 million, to exchanges in the past three hours. This movement may reflect short-term profit-taking, though the broader market outlook leans bullish.
Price Outlook Ahead of ETF Decision
Technical levels show Solana consolidating above a strong bid zone near $190 to $195, which has previously acted as support. Analysts at iWantCoinNews suggest that holding this range could fuel a rebound toward $250 to $300.
Source:X
Should momentum continue, a push to $400 is increasingly seen as possible, particularly if ETF approval arrives mid-October. Conversely, failure to sustain the $190 threshold could trigger a deeper retracement toward $165.
Read More
Officials Warn Against Using Seized BTC to Fill UK Fiscal Gap Amid Legal Uncertainty