Key Insights:
- Seven firms filed updated Solana ETF applications with staking.
- Polymarket now gives a 92% chance of SEC approval.
- SEC review is ongoing as the timeline for the decision remains unclear.
The probability of a spot Solana ETF approval has surged to 92%, according to prediction market Polymarket. This increase comes after seven major asset managers updated their S-1 filings with the U.S.
Securities and Exchange Commission (SEC), including new language allowing for staking. While investor enthusiasm is growing, regulatory approval is not yet confirmed.
Seven Solana ETF Filings Updated with Staking Provisions
On June 13, seven firms, Fidelity, Grayscale, VanEck, 21Shares, Franklin Templeton, Bitwise, and Canary Capital, submitted updated S-1 registration statements to the SEC for their proposed spot Solana ETFs. Each updated filing now contains explicit language supporting staking mechanisms, allowing ETF investors to earn staking rewards in addition to price exposure.
Bloomberg ETF analyst James Seyffart said in a recent post that while optimism is rising, approval is unlikely in the immediate future.
These filings follow the SEC’s recent guidance to update aspects related to in-kind redemptions and fund structure. All seven issuers reportedly responded to the SEC’s request, aligning their structures more closely with Solana’s on-chain operations.
Institutional Accumulation Adds to Market Momentum
Alongside the ETF developments, DeFi Development Corp, a publicly traded Solana-focused firm, revealed a $5 billion equity line of credit with RK Capital. This funding agreement enables the company to issue new shares gradually and increase its SOL holdings without relying on a fixed-price offering.
This development was announced after the company withdrew a previous Form S-3 registration due to eligibility issues. Despite the temporary regulatory delay, DeFi Dev Corp confirmed its intent to file a new registration in the future. The firm currently holds more than 609,000 SOL, worth approximately $97 million.
DeFi Dev Corp CEO Joseph Onorati stated that the credit facility provides a “clean, strategic path” to expand the company’s Solana treasury and increase its staking-based yields over time. This suggests a long-term institutional commitment to Solana and its staking-based income model.
Approval Timeline Remains Uncertain Despite High Odds
Although there is accumulating institutional acceptance and renewed confidence in the markets, it is still unclear whether ETFs would be approved. Indeed, it is the first step when the U.S. crypto ETFs include the staking language. It may become a precedent in case it is approved by the SEC. Nevertheless, new deployments of Ethereum ETFs have demanded the deletion of staking abilities, an element of uncertainty that puts forward Solana suggestions.
Seyffart opined that a ruling that will permit staking could be made concurrently to both Solana and Ethereum spot ETFs. When asked when spot Solana ETFs might launch, he specifically added, “Theoretically, spot Solana ETFs can be launched at the same time when the SEC gives the green light to staking of the spot Ether ETFs.”
The SEC is currently reviewing the revised S-1 submissions. These issuers are supposed to keep communicating with the regulator in the forthcoming weeks. Whereas approval odds according to Polymarket are 92%, analysts are issuing caution on when to expect the same to take place. Previous approvals of ETFs, such as Bitcoin ETF in January 202,4, came after months of regulatory discussions.
SOL/USDT Charts Hint at Bullish Pattern Near $160
Solana price reacted positively to ETF news and institutional flows. On Binance, the SOL/USDT daily chart shows a double bottom pattern near the $125–$130 support zone.
The neckline resistance sits at $160. A breakout above that level on strong volume could confirm the bullish reversal and target $200.
The RSI sits at 38, suggesting potential for upward movement if buyers return. The MACD remains below zero but may cross soon. The Stochastic RSI leans downward but hovers near a typical bounce zone.
Solana currently trades near $144, stabilizing as the market awaits regulatory clarity on ETF approvals.
Disclaimer
This article is for informational purposes only and provides no financial, investment, or other advice. The author or any people mentioned in this article are not responsible for any financial loss that may occur from investing in or trading. Please do your research before making any financial decisions.
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