Solana ETF Outlook: List Of Solana ETF Filings & SEC Approval

The interest of institutions in cryptocurrency is continuously increasing, and 2025 is going to be the year for many crypto ETF approvals. Solana is one of the top among its competitors for spot ETF listing in the USA. Solana is considered to be the best alternative to Ethereum because of its low transaction fees, Decentralized Finance ecosystem, and growing developer base. The odds of approval for the Solana ETF exceeded 90%. Let’s get an overview of Solana ETF filings and what the SEC has to do with it. 

The scene began in July 2024, right after the SEC approved spot ETFs of Bitcoin and Ethereum in the USA. After this, a number of asset managers from various investment firms filed to launch spot Solana ETFs. Even after the uncertainty on how the SEC classifies Solana, Bloomberg said that there is a 75% chance of Solana ETFs getting approved by the end of the year which can also change the Solana price prediction for the upcoming years. 

SEC is currently led by Chair Paul Atkins, who is more open to crypto products. It is a positive sign for the cryptos that follow the rules and regulations in monitoring the market and keep up with the pricing standards. Two Solana futures ETFs (called SOLZ and SOLT) are already listed, and the CME plans to launch Solana futures later this year. This progress supports the idea that a spot Solana ETF could be approved soon. 

Let’s see a list of the main players driving the push for Solana ETFs in the US.

1. VanEckSolana Trust

In June 2024, VanEck filed an S-1 registration statement with the SEC, becoming the first to take action. This is the first official effort to create a spot Solana ETF in the United States, and the fund would monitor SOL's market price closely. VanEck has an early-mover advantage in the competition for cryptocurrency ETFs because of its early application.

2. 21 Shares Core Solana ETF 

VanEck was quickly followed by 21Shares, which also filed an S-1 in June 2024. Ethereum and other cryptocurrency ETFs are already traded on the Cboe BZX Exchange, where the fund is planned to list. With this Solana filing, 21Shares continues to solidify its place as a major participant in cryptocurrency ETFs around the world.

3. Bitwise Solana ETF

Bitwise started the filing process in November 2024 by creating a legal trust in Delaware. Later, it removed its initial structure and filed a new S-1 directly with the SEC. In line with Bitwise's approach of looking for long-term cryptocurrency investment through reliable structures, the fund would effectively hold SOL.

4. Grayscale Solana ETF 

In January 2025, Grayscale submitted a proposal to convert its current Solana Trust (GSOL) into a spot exchange-traded fund (ETF). At the time of filing, GSOL's assets under management (AUM) were over $134 million. Grayscale's previous approach with its Ethereum and Bitcoin trusts is mirrored in this proposal, which might see the ETF listed on the NYSE Arca.

5. Canary Solana ETF 

Canary Capital's proposal, which was submitted between the end of 2024 and the beginning of 2025, was part of the mass submission of cryptocurrency ETF applications that followed the US presidential election. In an attempt to meet the increasing institutional interest in compliant SOL exposure, the company filed an S-1 for a spot Solana ETF.

6. Franklin Templeton Solana ETF 

In March 2025, Franklin Templeton, which oversees funds worth over $1.5 trillion, filed for both S-1 and 19b-4 forms. One of the most well-known institutional entries into the Solana ETF competition is its projected Solana ETF, which would be listed on the Cboe BZX Exchange.

7. Fidelity Solana ETF 

On behalf of Fidelity, the Cboe BZX Exchange filed a 19b-4 application for a potential spot Solana ETF on March 25. Later in April, the SEC recognized receipt of the application. Interestingly, Fidelity's fund intends to stake a percentage of its SOL holdings through reliable third-party providers, providing the possibility of yield, which is different from other filings at this time.

Although none of these applications have received a decision from the SEC yet, perceptions have changed significantly since the beginning of 2025. Analysts think it's getting harder for the SEC to defend rejecting comparable products now that Bitcoin and Ethereum ETFs are available, particularly if they trade on authorized futures markets or have established custody and pricing infrastructures.

One of the final obstacles that needs to be overcome is regulatory classification. The SEC has not yet formally decided whether Solana is a security, and the decision-making process may be impacted by ongoing legal disputes involving other cryptocurrencies. However, ETF sponsors are revising their files in order to tackle issues, including enhanced disclosures and surveillance-sharing contracts, which were crucial in gaining approval for spot Bitcoin ETFs at the beginning of 2024.

Bloomberg Intelligence estimates that a spot Solana ETF may attract $3-6 billion in inflows, which makes it one of the biggest cryptocurrency ETF launches t so far. The momentum is also increased by the reality that US clearing institutions currently recognize futures ETFs linked to Solana. 

A significant step toward providing institutional-grade investors with access to one of the most vibrant blockchains in the cryptocurrency ecosystem would be taken if any of these Solana ETFs receive regulatory approval in the second half of 2025, as many experts now anticipate.

BlockDAG is quickly becoming a strong option for scalable blockchain technology as Solana moves toward ETF approval. BlockDAG can confirm multiple blocks simultaneously, which makes transactions faster and more efficient, with confirmation times under 1.5 seconds. The network has already welcomed over 7,000 crypto miners, with more joining daily, laying a solid foundation for wider use.