21Shares files updated S-1 for Solana ETF ahead of SEC decision
Solana ETF issuers are updating their proposals as the U.S. crypto market braces for a busy October, with the SEC set to rule on a wave of altcoin ETF applications.
- Solana ETF proposals gain traction as 21Shares updates S-1 filing, revising fund structure and operational details.
- Other issuers, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, have also submitted similar updates.
- The SEC is expected to make final decisions on 16 crypto ETF applications in October, covering altcoins like Solana, XRP, Litecoin, Dogecoin, and Cardano.
ETF issuer 21Shares has filed an updated S-1 for its proposed Solana ETF. In the amendment, the asset manager provided revised details on the structure and operations of the proposed fund. The update includes provisions around staking and clarifies how in-kind redemptions would be handled, addressing points that have drawn close scrutiny from regulators.
The filing builds on a flurry of similar amendments submitted in recent days by other issuers, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary.
Currently, around nine applications for Solana (SOL) ETFs are pending with the SEC. The recent wave of amendments signals that issuers are actively refining their filings in response to regulatory feedback, a common step ahead of final approval decisions.
Solana ETF amendments come ahead of October approval buzz
October is shaping up to be a big month for crypto ETFs, with the SEC set to decide on several altcoin-based applications, such as XRP (XRP), Litecoin (LTC), Cardano (ADA), alongside SOL.
Deadlines for the various proposals are spread throughout the month, and ongoing regulatory developments are fueling approval hopes across the industry. Official sources have recently revealed that the SEC has dropped delay notices for these applications, clearing the way for final decisions and a potential flood of new ETF releases hitting the market.
This follows the approval of updated listing standards for crypto ETFs by the commission earlier in the month, boosting expectations that the proposed funds are likely to receive regulatory approval.
Updated filings from 21Shares and other issuers now add to the growing chatter and anticipation around the proposed funds. Meanwhile, the ETF buzz is translating into strong price action for SOL, which is up nearly 4% on the day, trading at $207 at the time of writing.
