17h05 ▪
4 min read ▪ by
Fenelon L.
Will Solana Shine in October? Spot ETFs with Staking Potentially Approved Soon
Could the coming weeks bring significant gains for Solana? The SEC is expected to make decisions on several spot ETFs that include staking features within the next couple of weeks. This approval could usher in a fresh wave of institutional investment and alter the landscape of digital currencies. But will this regulatory nod be enough to elevate SOL to the prominence of Bitcoin and Ethereum?
Key Takeaways
Several Solana ETFs incorporating staking rewards are under SEC review, with decisions anticipated in approximately two weeks.
Prominent financial firms, including Fidelity, Franklin Templeton, and Grayscale, are vying to launch these products.
Pantera Capital believes Solana represents the “next institutional opportunity” following Bitcoin and Ethereum.
Currently, institutional ownership of SOL remains modest, representing less than 1% of the total supply.
Solana Navigates the Regulatory Maze
Nate Geraci, president of NovaDius Wealth Management, suggests the SEC may authorize multiple Solana ETFs with staking capabilities by mid-October.
These applications, submitted by leading asset management companies such as Franklin Templeton, Fidelity, Grayscale, and VanEck, signal a crucial step towards greater institutional involvement with SOL.
The earlier launch of the REX-Osprey Solana staking ETF on the Cboe BZX Exchange in August saw immediate success, exhibiting robust trading volumes from the outset.
Building on this successful launch, the market now anticipates a new series of financial products backed by Solana, potentially drawing in significantly more institutional capital.
This surge of interest coincides with increased scrutiny from the crypto market on the movements of US regulators. Recent approvals of ETFs for other digital assets, alongside the SEC’s consideration of broader listing criteria for crypto ETFs, boost the possibility of Solana reaching a significant breakthrough.
Furthermore, the inclusion of staking features in these new applications sends a powerful signal. If the SEC approves staking for Solana, it might pave the way for upgraded versions of existing Ethereum ETFs, encompassing both price exposure and staking rewards.
This trend extends beyond the United States. In Europe, the Solana ETP with Staking introduced by Bitwise accumulated $60 million in investments in just five days.
“Solana is on everyone’s mind,” states Hunter Horsley, Chief Investment Officer at Bitwise, underscoring the growing investor enthusiasm for this rapidly expanding network.
A Crucial Juncture for Institutional Acceptance
Pantera Capital continues to assert that Solana is “next in line” for widespread institutional adoption. However, institutional investors currently possess less than 1% of the overall SOL supply, compared to 16% for Bitcoin and 7% for Ethereum.
In terms of market value, the disparity is also noteworthy: approximately $364 billion for Bitcoin, over $30 billion for Ethereum, and just around one billion for Solana.
Nevertheless, Solana presents compelling advantages. Its network delivers fast transaction speeds and low costs, attracting prominent payment processors such as Stripe and PayPal.
Additionally, SOL staking offers an appealing yield, ranging from 7% to 8%, significantly higher than yields available from Ethereum.
If the SEC approves Solana staking ETFs, this action could act as a catalyst. Institutional capital, currently largely absent from the SOL ecosystem, would gain access to a regulated avenue for investment.
Such a development would enhance Solana’s legitimacy, bringing its standing closer to the market leaders, Bitcoin and Ethereum.
The potential impact should not be underestimated. A significant shift of institutional funds towards Solana could reshape the existing crypto market structure.
With its competitive staking yields and solid fundamentals, the SOL token is well-positioned to be a leading contender in the next market cycle. The coming two weeks, which are essential for ETF approvals, could signal the beginning of this important transformation.
Maximize your Cointribune experience with our “Read to Earn” program! For every article you read, earn points and access exclusive rewards. Sign up now and start earning benefits.
Fenelon L.
A Bitcoin enthusiast, I enjoy exploring the intricacies of blockchain and cryptocurrencies and sharing my discoveries with the community. My dream is to live in a world where privacy and financial freedom are guaranteed for all, and I firmly believe that Bitcoin is the tool that can make this possible.
DISCLAIMER
The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before making any investment decisions.
function launch_facebook_pixel() {
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function(){n.callMethod?
n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window,document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘399446674556272’);
fbq(‘track’, ‘PageView’); }
function launch_google_analytics() {
var el = document.createElement(‘script’);
el.setAttribute(‘type’, ‘text/javascript’);
el.setAttribute(‘async’, true);
el.setAttribute(‘src’, ‘//www.googletagmanager.com/gtag/js?id=G-MCDLS7NHBD’);
document.body.append(el); window.dataLayer = window.dataLayer || [];
function gtag(){dataLayer.push(arguments);}
gtag(‘js’, new Date());
gtag(‘config’, ‘G-MCDLS7NHBD’, {‘anonymize_ip’: true});
gtag(‘config’, ‘G-MCDLS7NHBD’, {‘link_attribution’: true});
}
function launch_linkedin_pixel() {
_linkedin_partner_id = ‘3766114’;
window._linkedin_partner_id = ‘3766114’;
window._linkedin_data_partner_ids = window._linkedin_data_partner_ids || [];
window._linkedin_data_partner_ids.push(_linkedin_partner_id);
(function(l) { if (!l){window.lintrk = function(a,b){window.lintrk.q.push([a,b])}; window.lintrk.q=[]} var s = document.getElementsByTagName(‘script’)[0]; var b = document.createElement(‘script’); b.type=”text/javascript”;b.async = true; b.src=”https://snap.licdn.com/li.lms-analytics/insight.min.js”; s.parentNode.insertBefore(b, s);})(window.lintrk); }
function launch_microsoft_clarity() {
if (typeof window.clarity !== ‘undefined’) {
window.clarity(“consent”);
}
}
function launch_loyalty_program_1world() {
if (typeof window.OWOStorageSolutionManager !== ‘undefined’ && typeof window.OWOStorageSolutionManager.allow !== ‘undefined’) {
window.OWOStorageSolutionManager.allow();
}
}
(function(w,d,s,l,i){w[l]=w[l]||[];w[l].push({‘gtm.start’:new Date().getTime(),event:’gtm.js’});var f=d.getElementsByTagName(s)[0],j=d.createElement(s),dl=l!=’dataLayer’?’&l=”+l:”‘;j.async=true;j.src=”https://www.googletagmanager.com/gtm.js?id=”+i+dl;f.parentNode.insertBefore(j,f);})
(window,document,’script’,’dataLayer’,’GTM-KCC4DFK’); document.addEventListener(‘DOMContentLoaded’, function() {
var el = document.createElement(‘script’);
el.setAttribute(‘type’, ‘text/javascript’);
el.setAttribute(‘async’, true);
el.setAttribute(‘src’, ‘https://www.clarity.ms/tag/’ + ‘j0pngcg8ry’);
document.body.append(el);
window.clarity = window.clarity || function() {(window.clarity.q = window.clarity.q || []).push(arguments);};
});
void 0 === window._axcb && (window._axcb = []);
window._axcb.push((axeptio) => {
axeptio.on(“cookies:complete”, (choices) => {
if (choices.google_analytics) {
launch_google_analytics();
}
if (choices.facebook_pixel) {
launch_facebook_pixel();
}
if (choices.Linkedin) {
launch_linkedin_pixel();
}
if (choices.clarity) {
launch_microsoft_clarity();
}
if (choices.loyalty_program) {
launch_loyalty_program_1world();
} else {
if (typeof window.OWOStorageSolutionManager !== ‘undefined’ && typeof window.OWOStorageSolutionManager.disable !== ‘undefined’) {
window.OWOStorageSolutionManager.disable();
}
}
});
});
window.axeptioSettings = {
clientId: ’60df16cf7559213aac28972d’,
cookiesVersion: ‘EN’,
googleConsentMode: {
default: [
{
analytics_storage: ‘denied’,
ad_storage: ‘denied’,
ad_user_data: ‘denied’,
ad_personalization: ‘denied’,
wait_for_update: 500,
},
{
region: [‘US’],
analytics_storage: ‘granted’,
ad_storage: ‘granted’,
ad_user_data: ‘granted’,
ad_personalization: ‘granted’,
wait_for_update: 500,
}
]
}
};
document.addEventListener(‘DOMContentLoaded’, () => {
var el = document.createElement(‘script’);
el.setAttribute(‘type’, ‘text/javascript’);
el.setAttribute(‘async’, true);
el.setAttribute(‘src’, ‘https://loyalty-wleu.1worldonline.com/points-balance-widget.js’);
document.body.append(el); if (typeof window.OWOStorageSolutionManager !== ‘undefined’ && typeof window.OWOStorageSolutionManager.disable !== ‘undefined’) {
window.OWOStorageSolutionManager.disable();
}
const urlParams = new URLSearchParams(window.location.search);
if (urlParams.has(‘logged-out’) && urlParams.get(‘logged-out’) === ‘1’) {
const checkFunctionExist = setInterval(() => {
if (typeof window.logout1WO === ‘function’) {
setTimeout(window.logout1WO, 500);
clearInterval(checkFunctionExist);
}
}, 100);
}
});