Major U.S. Firms Seek to Add Staking Rewards to Solana ETFs

The push to launch Solana exchange-traded funds (ETFs) in the United States in the U.S. is moving fast. Big firms have updated their applications to include staking. This means the ETFs could earn extra rewards, making them more appealing to investors. Experts think the U.S. Securities and Exchange Commission (SEC) might approve them in just two weeks.

Spot Solana ETFs Add Staking as SEC Decision Nears

The amended S-1 filings were submitted by Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary. 

Bloomberg analyst James Seyffart pointed out that each filing now includes a staking component. Notably, Grayscale, Bitwise, and Canary detailed in their filings that Solana will be placed into designated staking accounts. 

With Solana’s proof-of-stake system, funds can earn rewards paid in cash or SOL tokens. These rewards count as income for the ETF, which can boost its overall value and give investors more returns. This setup gives investors two benefits: gains from Solana’s price changes and extra income from staking.

ETF analyst Nate Geraci said the SEC’s faster pace in reviewing crypto products makes approval within two weeks a real possibility. Both Seyffart and fellow analyst Eric Balchunas had earlier predicted a 95% chance that spot Solana ETFs will gain approval before the end of 2025. This efficiency reflects the regulator’s recent approach to digital asset funds. 

SEC Shift Boosts Grayscale and Diversified Crypto ETFs

The timing of these amendments follows a broader shift at the SEC. Earlier in September, the commission approved changes to Grayscale’s Ethereum products, allowing them to move under more standardized listing rules. That decision opened the door for similar crypto products to gain approval more quickly, without repeated case-by-case reviews.

This comes as Grayscale continues to expand beyond single-asset products. It’s the CoinDesk Crypto 5 ETF, which includes Solana and XRP, reported $22 million in first-day trading volume. The move shows that investor demand is not only for single-chain exposure but also for diversified crypto assets.

Institutional Demand Pushes Solana ETFs to New Heights

Big investors are showing more interest in Solana products. In Europe, Bitwise’s Solana staking fund brought in $60 million in just one week. 

In the U.S., the REX-Osprey SOL and Staking ETF (SSK) has grown quickly, with $10.6 million added in a single day. The fund now manages over $250 million, only two months after launch. To cut costs, REX-Osprey changed its structure this month, moving to a regulated investment company. 

This makes the fund more tax-friendly by removing federal and state taxes at the fund level. BlackRock had also tried to launch a Solana ETF, but some analysts opposed it. In August, analyst James Seyffart argued it would be unfair if BlackRock entered at the same time as smaller firms.