CoinShares Stakes Its Claim with New Spot Solana ETF Filing Amid Growing SEC Momentum

CoinShares has officially thrown its hat into the ring of asset managers racing to launch a spot Solana ETF in the U.S., filing a Form S-1 registration statement with the Securities and Exchange Commission (SEC), as revealed through the agency's EDGAR database.

The proposed CoinShares Solana ETF would give investors public market exposure to SOL, the sixth-largest cryptocurrency by market cap. CoinShares is positioning itself as the fund sponsor, while Coinbase Custody and BitGo Trust are tapped to handle asset storage. In a move that sets this filing apart from others, CoinShares plans to stake a portion of the ETF’s SOL holdings—potentially unlocking staking rewards for shareholders.

“The Trust will receive a portion of the staking rewards generated by a Staking Provider,” the filing notes, though the identity of that provider remains undisclosed. The staking portion will be fixed before the ETF’s official launch.

Rising Hopes for Approval

CoinShares is now the eighth major asset manager to seek SEC approval for a Solana ETF, joining firms like VanEck, 21Shares, Bitwise, Grayscale, Franklin Templeton, Fidelity, and Canary Capital. All are targeting a slice of the growing institutional demand for crypto-linked investment products.

The latest wave of filings comes amid speculation that the SEC may be softening its stance. Several issuers—including VanEck and Franklin Templeton—recently submitted revised S-1 forms at the SEC's request, addressing specific details such as in-kind redemption models and staking mechanisms.

Analysts Signal Green Light Within Months

According to Bloomberg Intelligence ETF analyst Eric Balchunas, approval for spot Solana ETFs could arrive within two to four months, depending on how swiftly the SEC processes the flood of submissions. Balchunas also noted that Litecoin and Solana have the strongest odds of success in the next batch of approvals.

Industry insiders are also urging the SEC to adhere to its “first-to-file” principle, which would give an advantage to the earliest applicants in terms of launch timing.

This development builds on last year’s watershed moment when the SEC greenlit spot Bitcoin and Ethereum ETFs, opening the door for broader crypto ETF offerings. With filings now in place for coins like Cardano, Dogecoin, XRP, and Litecoin, the next few months could be pivotal for how digital assets enter traditional finance.

If approved, the CoinShares Solana ETF—backed by both staking rewards and top-tier custodianship—could become a standout offering in the expanding world of crypto investment products.