Wave of Solana ETF S-1 Amendments: What Does It Mean for the Crypto Industry?

Recently, Nate Geraci, CEO of the ETF Store, revealed that major fund managers including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary have filed S-1 amendments for their Solana (SOL) spot ETF products.

What stands out is the inclusion of staking features, a development widely viewed as a positive sign that an Ethereum (ETH) spot ETF with staking might also be approved in the future. Geraci predicts that approval could arrive within the next two weeks.

For those new to terms like “crypto ETF,” “staking,” or “S-1,” let’s break them down first.

Key Terms Explained

Term	Quick Explanation
ETF (Exchange-Traded Fund)	A financial product that lets investors buy a “package” of assets (stocks, commodities, or crypto) without owning each asset individually.
Spot ETF	An ETF that directly holds (or tracks) the underlying asset in real terms, not via derivatives like futures.
S-1 Amendment	The registration form submitted to regulators (such as the SEC in the U.S.). An amendment means the fund managers updated or changed their application.
Staking	In Proof-of-Stake (PoS) systems, staking means locking tokens to help validate transactions and earn rewards.
SEC (U.S. Regulator)	The U.S. Securities and Exchange Commission, which plays a key role in approving or rejecting crypto ETF products.

What’s New in These Amendments?

Inclusion of Staking
Fund managers want their ETFs to not only hold SOL but also stake it to generate additional yield.
This is significant because so far, approved crypto ETFs (mainly Bitcoin/Ether) have not included staking.
Faster Regulatory Momentum
Geraci believes approvals could be granted within two weeks.
Reports suggest regulators and issuers are engaging in more active communication and refining documents.
Ethereum’s Domino Effect
Since ETH is also a Proof-of-Stake asset, including staking in Solana ETF filings signals regulators might open the door for Ethereum spot ETFs with staking. Geraci himself said: “inclusion of staking … bodes well for spot ETH ETF staking.”
Performance & Early Demand
- The first Solana staking ETF in the U.S. (REX-Osprey) saw strong volume and inflows on its launch day.
- In Europe, a staking SOL ETP recorded $60 million in inflows within just days.

All of this reflects genuine market appetite for more “traditional” ways to access crypto through ETFs.

Projections & Risks Ahead

Positive Outlook

If approved, institutional demand for SOL could surge, as funds, pensions, and hedge funds gain exposure via ETFs instead of holding tokens directly.
With staking included, investors can earn additional yield, making crypto ETFs not only speculative but also productive.
A successful Solana staking ETF could pave the way for Ethereum staking ETFs and broader crypto ETF expansion.

Risks & Challenges

Regulatory uncertainty – The SEC could still delay or reject proposals.
Staking at scale – Running secure and transparent staking operations for large funds poses challenges in liquidity and risk management.
Market volatility – SOL, like all crypto, remains highly volatile.
Operational costs – Managing staking, security, and fund operations may affect investor returns.

Conclusion: What to Watch Next

The latest S-1 amendments by top fund managers, including staking in Solana spot ETFs, are a critical development for crypto finance. This could mark the start of a more mature and regulator-friendly era of crypto investment products.

If Nate Geraci’s predictions are correct, the next 1–2 weeks could bring a landmark decision from the SEC.

For both retail and institutional investors, it’s worth monitoring:

Official announcements from the SEC or relevant regulators
Final ETF prospectuses and staking mechanisms
Fund flows and trading volumes at product launch as indicators of market enthusiasm