The possibility of a Solana (SOL) exchange-traded fund (ETF) launching in the U.S. by the end of 2025 is looking increasingly likely, with several key developments pointing towards regulatory approval.
Cboe BZX Exchange recently filed four applications for spot Solana ETFs, submitted by VanEck, 21Shares, Bitwise Asset Management, and Canary Capital. The Securities and Exchange Commission (SEC) is reportedly engaging with these applications, with a final deadline expected around early August 2025, according to Bloomberg Intelligence ETF analyst James Seyffart.
The shift in regulatory sentiment following the election of President Trump and a pro-crypto Congress, coupled with the resignation of SEC Chair Gary Gensler, has fueled optimism within the crypto community. Nate Geraci, President of The ETF Store, expressed confidence in the likelihood of Solana ETF approval by the end of next year. He noted the SEC’s engagement with issuers as a positive sign.
Alexander Blume, CEO of Two Prime Digital Assets, echoed this sentiment, highlighting the precedent set by the successful launch of spot Bitcoin and Ethereum ETFs. He believes the combination of a crypto-friendly administration, a more favorable regulatory environment, and the established success of other crypto ETFs will pave the way for a Solana ETF within the next year. Blume emphasized the potential for ETFs to unlock significant capital inflows from both institutional and retail investors, further propelling the crypto market.
The recent surge in Bitcoin ETF inflows, exceeding $30 billion since their launch in January, underscores the growing investor appetite for crypto ETFs. This, combined with record-breaking total ETF inflows across the entire ecosystem, further strengthens the case for a Solana ETF.
Matthew Sigel, VanEck’s head of digital asset research, criticized Gensler’s enforcement-driven approach to regulation and expressed optimism about a return to a more disclosure-based system, fostering innovation in the crypto space.
Gensler’s resignation, effective January 20, 2025, coinciding with President Trump’s inauguration, has been viewed as another positive catalyst for the crypto market, with Bitcoin’s price continuing to reach new all-time highs. Solana’s price also recently surpassed its previous all-time high, further fueling expectations for an ETF.
Austin Reid, global head of revenue at FalconX, believes the launch of Solana ETFs would be a significant milestone for the SOL ecosystem and the broader crypto industry. He anticipates that regulatory clarity will facilitate the development of actively managed crypto products and basket ETFs, attracting further institutional liquidity.
