Firms amend SOL ETF filings as they look to get the SEC's approval

Firms looking to launch spot Solana exchange-traded funds made changes to their registration statements on Thursday as they potentially inch closer to getting the U.S. Securities and Exchange Commission's sign-off.

Franklin Templeton, Bitwise, Fidelity, Canary Capital, CoinShares, Grayscale and VanEck filed amendments to their S-1 registration statements to the SEC. Grayscale's filing disclosed it plans to charge a 2.5% fee, payable in $SOL, for its fund.

Nate Geraci, president of NovaDius Wealth, said the changes show that the SEC and firms are making refinements, and noted that the amended filings didn't have substantial differences.

"Clearly dialogue w/ SEC and issuers are refining prospectus language," Geraci said in a post on X.

The SEC is weighing several proposals to launch a $SOL ETF along with dozens of other crypto funds from ones tracking $XRP to DOGE. The agency has taken a friendlier stance to digital assets under the Trump administration, showing signs of potential eventual approval of the funds.

Earlier this week, the SEC approved in-kind redemptions for both spot bitcoin and Ethereum ETFs and increased option limits for bitcoin funds. Then on Thursday, the agency's Chair Paul Atkins debuted "Project Crypto" in the name of updating the SEC's rules and said that, in opposition to what the SEC said previously, that "most crypto assets are not securities."