Multiple asset management companies' applications for Solana exchange-traded fund (ETF) staking products may receive approval from the U.S. in mid-October, ETF analyst Nate Geraci stated after the latest regulatory filings.
"Speculating that these will be approved in the next two weeks," said Geraci, president of NovaDius Wealth Management, in a post on X on Friday.
Geraci noted that asset management companies Franklin Templeton, Fidelity Investments, CoinShares, Bitwise Asset Management, Grayscale Investments, VanEck, and Canary Capital all submitted revised S-1 filings for a spot Solana (SOL) ETF to the U.S. Securities and Exchange Commission (SEC) on Friday. The S-1 filing is a comprehensive disclosure document outlining a company's financial condition, risk factors, and the securities it intends to issue.
This comes just over two months after the REX-Osprey Solana Staking ETF debuted on the Cboe BZX exchange, where the product recorded $33 million in trading volume and $12 million in fund inflows on its first day of trading.
Pantera Capital's asset managers recently referred to SOL as "the next coin to experience an institutional moment," citing its under-allocation compared to Bitcoin (BTC) and Ethereum (ETH).
Geraci stated that next month could be significant for the crypto market, pointing to recent events such as the first Hyperliquid (HYPE) ETF application and the SEC's approval of universal listing standards for crypto ETFs.
"Get ready for October," Geraci said.
Meanwhile, Bitwise Invest's Chief Investment Officer Hunter Horsley noted in a post on X on Friday that the Bitwise Solana Staking ETP in Europe saw $60 million in inflows over the past five trading days. "Solana is on people's minds," Horsley said.
Analysts at Bitfinex recently stated that altcoins may not see widespread significant rebounds until more crypto ETFs are approved, allowing investors to gain more exposure on the risk curve.
Incorporating staking into recent U.S. ETF application filings "is a good sign for spot ETH ETF staking," Geraci also pointed out.
Several industry participants have recently expressed similar views. Markus Thielen, head of research at 10x Research, recently told Cointelegraph that staking for Ethereum ETFs would increase yields and could "significantly reshape the market."
U.S. ETF issuers are still waiting for the SEC to allow Ethereum ETFs to offer staking services, having submitted numerous license applications earlier this year.
Related: Solana (SOL) falls below $200, ETF approvals expected to trigger "institutional moment" and drive new highs
Original article: “Analyst: Multiple Solana (SOL) Staking ETFs May Receive U.S. Approval Within Two Weeks”
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