Anticipation for a spot Solana ETF has grown as institutional interest and regulatory developments converge. Recent headlines highlight the US Securities and Exchange Commission’s (SEC) decision to formally acknowledge Grayscale’s amended filing for a Solana exchange-traded fund, something analysts call a significant first step.

Calculate your crypto gains with our free crypto profit calculator.

Is there an ETF for Solana?

At the time of writing, there is no fully approved, US-listed Solana ETF that directly holds SOL tokens. Several asset managers have signaled their intent to launch a spot Solana ETF, but none have received the final go-ahead from the SEC.

• Over-the-counter (OTC) products exist in some jurisdictions, though these are not regulated like ETFs on major US exchanges.

• Investors often ask, “Is there a Solana ETF?” because Grayscale, 21Shares, Bitwise, VanEck, and others have either filed or are considering proposals for a spot SOL ETF.

While the SEC has historically been cautious with digital asset ETFs, recent moves( such as acknowledging Grayscale’s spot Solana application) suggest regulators are beginning to engage more concretely with the concept.

What is the latest Solana ETF news?

With multiple asset managers submitting new applications and amendments, the battle for a first-of-its-kind Solana ETF continues to intensify. Franklin Templeton’s latest move, registering the Franklin Solana Trust entity in Delaware, shows how quickly institutional interest has grown.

Canary Capital, Grayscale, and others have also caught the SEC’s attention, though official approval remains uncertain, particularly since the regulator has labeled Solana an unregistered security. Despite the ambiguity, rising demand suggests more firms will position themselves for a potential green light, pointing to the importance of regulatory developments in shaping the Solana ETF’s future.

On February 6th, 2025, the SEC acknowledged Grayscale’s amended 19b-4 filing for a spot Solana ETF. According to Bloomberg, this acknowledgment is significant because previous attempts at registering spot Solana ETFs were refused or left unacknowledged under Gary Gensler’s SEC leadership.

Multiple crypto ETF filings have been submitted as major firms test the waters under a perceived shift in SEC attitudes, now led by Commissioner Mark Uyeda. Analysts speculate the SEC’s posture is slowly changing, evidenced by active reviews of different crypto assets (including Dogecoin and XRP) for possible spot ETF listings.

JPMorgan estimates a spot Solana ETF could attract between $3 billion and $6 billion in net assets within its first year, which could significantly influence the Solana ETF price and liquidity.

Polymarket, a prediction platform, places the odds of a spot Solana ETF approval by July 31 at around 39%, reflecting moderate optimism among betting markets.

See our expert picks of the best crypto wallets.

Solana ETF timeline

Although the exact Solana ETF approval date remains unknown, a few milestones offer clues:

• Grayscale’s final deadline: Bloomberg ETF analyst James Seyffart notes that the SEC must rule on Grayscale’s Solana ETF by roughly October 11, 2025. The agency can approve, reject, or postpone a final decision.

• Past caution: Under Gensler’s leadership, the SEC questioned whether SOL is a security, complicating direct approval.

• Future outlook: Some analysts believe it may be as late as 2026 before a spot Solana ETF is fully approved, due to ongoing legal questions around crypto platforms like Binance and Coinbase.

A spree of ETF filings has also introduced spot applications for Dogecoin and XRP, among others. How swiftly the SEC moves on Solana specifically will hinge on broader regulatory trends and whether the agency clarifies its stance on SOL’s classification.

Learn more: Solana Tax.

Solana ETF applications

Several high-profile asset managers have filed or refiled 19b-4 forms with the SEC to list a spot Solana ETF. These applications often highlight:

• Fund structure: Whether the ETF will hold SOL tokens directly or rely on derivative contracts.

• Custody: Proposed methods to securely store SOL on behalf of shareholders.

• Market viability: Demonstrating that SOL has sufficient liquidity and transparent price discovery.

Notable applicants include:

• Grayscale, which recently amended its filing and has received the SEC’s official acknowledgment.

• 21Shares, Bitwise, and VanEck, which also submitted spot Solana ETF proposals via Cboe BZX Exchange.

The SEC’s willingness to consider these applications, coupled with higher trading volumes in SOL, may bode well for eventual approval.

See our expert picks of the best crypto loans.

A more crypto friendly future

Some observers suggest an evolving leadership dynamic at the SEC could usher in a more crypto-friendly environment. Changing definitions of digital assets—particularly whether certain tokens should be regulated as securities or commodities—plays a big role in the approval process.

Lawsuits involving major crypto exchanges have further complicated matters. Many ETF proposals remain in limbo until the SEC finalizes rules or gains clarity from courts. Still, acknowledgment of these filings represents incremental progress for the Solana ecosystem.

Use our free crypto tax calculator.

How to buy sol ETF?

If a spot Solana ETF gains approval in the United States, investors would likely buy it through:

1. Brokerage accounts: Once listed on a national securities exchange, shares could be traded alongside stocks and bonds.

2. Robo-advisor platforms: Popular for automated investing, these could integrate a Solana ETF into various portfolio models.

3. Traditional financial institutions: Mutual fund alternatives and retirement account allocations may include Solana ETF shares.

For now, US-based investors wanting exposure to SOL often purchase the token directly on crypto exchanges or explore international ETF-like products that track Solana in markets with different regulatory frameworks.

Solana ETF Tax Implications

If a spot Solana ETF becomes available, it may have tax considerations similar to other crypto-themed ETFs:

• Capital gains tax: Gains realized from selling ETF shares are subject to short- or long-term capital gains taxes.

• Distributions: Some ETFs may distribute dividends or interest, subject to income tax rates.

• Recordkeeping: Investors must track purchase and sale dates to accurately report gains or losses, especially since Solana ETF price fluctuations can be frequent.

Regulatory updates from the IRS regarding digital assets may evolve, so consulting a tax professional about your specific situation is always advisable.

Learn more: Buying Bitcoin ETFs.