Solana Exchange-Traded Funds May Arrive on Wall Street in 2025

Agency staff at the U.S. Securities and Exchange Commissions engaged exchange-traded fund issuers over filings for a spot Solana (SOL) ETF, per Fox Business.

Solana exchange-traded funds (ETFs) could hit Wall Street as early as 2025, as issuers told Fox Business that they had filed for a spot Solana (SOL) ETF with the U.S. Securities and Exchange Commission (SEC).

According to two people familiar with the matter, national exchanges like the CBOE could file 19b-4 forms on behalf of the firms "in the coming days."

VanEck, 21Shares, and Canary Capital are among the firms that have submitted applications to the SEC for a spot SOL ETF. Bitwise also expressed interest in filing S-1 documents, like the three issuers.

S-1 and 19b-4 forms are the two official paperwork required to bring new ETF classes to market. Issuers typically handle the registration of securities or S-1 filings, while exchanges oversee 19b-4s, which propose rule changes to allow new listings.

However, the SEC is not obligated to approve filings after receiving documents from issuers and exchanges. In August, the CBOE removed 19b-4 forms filed for VanEck and 21Shares from its website.

Uncertainty around the SEC’s view on Solana’s security status under chair Gary Gensler was pinpointed as the primary cause.

Yet, industry leaders have noted shifts in America’s regulatory winds since Donald Trump became President-elect.

Trump’s team was considering candidates for the first White House crypto post. Several pro-crypto names have emerged as top options for important roles like SEC chair and Treasury Secretary.

Rising confidence regarding a relaxed approach to digital assets from U.S. authorities bolstered hopes of expanding the existing crypto ETF suite. Feedback from SEC agency staff raised optimism for possibly launching Solana ETFs next year.