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CoinShares becomes the eighth firm to file for a spot Solana ETF
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Filing includes plans to stake a portion of the fund’s SOL holdings
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Coinbase Custody and BitGo Trust will serve as custodians
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Optimism builds as the SEC reviews multiple amended filings
CoinShares Enters Growing Spot SOL ETF Race
European asset manager CoinShares has filed a Form S-1 registration with the U.S. SEC for its proposed spot Solana ETF, joining a growing list of firms looking to list SOL-based exchange-traded funds in the U.S. The fund, dubbed the CoinShares Solana ETF, would track Solana’s price and stake a portion of its SOL assets through unnamed staking providers.
Staking Incentives Highlight Emerging ETF Trends
A key detail in CoinShares' filing is its plan to stake some of the ETF’s SOL, generating staking rewards for the fund. This trend reflects growing industry interest in combining traditional ETF structure with yield-generating crypto protocols. Coinbase Custody and BitGo Trust are listed as the ETF’s custodians.
SEC May Be Warming to Solana ETFs
CoinShares is the eighth applicant, joining VanEck, Fidelity, Grayscale, Bitwise, and others. Recent amended filings from competitors — including staking-related language requested by the SEC — suggest that the agency may be preparing to approve these ETFs. Bloomberg analyst Eric Balchunas estimates approval could come within two to four months.
Market Implications Beyond Solana
Following the approvals of spot Bitcoin and Ethereum ETFs, the SEC has seen a surge in new applications for crypto-based funds, including Litecoin, XRP, Dogecoin, and Cardano. Analysts see SOL and LTC as top contenders for the next wave of approvals.
