BREAKING: CoinShares Shakes Up Crypto Markets with Bold Spot Solana ETF Filing – Staking Rewards Included
Wall Street meets Web3 as CoinShares lobs a grenade into traditional finance with its groundbreaking Solana ETF proposal. The London-based asset manager isn''t just dipping toes—it''s cannonballing into crypto waters with staking integration that could rewrite the passive income playbook.
The Solana Surge
Unlike vanilla ETF filings, this one comes with a twist: investors might earn yield while HODLing. The staking mechanism—a first for US-listed crypto ETFs—turns ''set it and forget it'' into ''set it and profit''. Solana''s 5.7% annual staking yield suddenly looks mighty tempting compared to Treasury bonds.
Regulatory Roulette
SEC chair Gary Gensler''s face probably just twitched. After dragging feet on spot Bitcoin ETFs for years, regulators now face a double-whammy: approving Solana exposure while greenlighting built-in staking rewards. The filing strategically drops during crypto''s 2025 resurgence—timing worthy of a Goldman Sachs alum.
Bankers scrambling to explain to clients why their ''blockchain exposure'' through BlackRock''s Bitcoin fund suddenly looks as innovative as a fax machine. Solana''s ecosystem growth—up 300% since last bear market—just got the ultimate institutional endorsement. Game on.
CoinShares Eyes Yield Through Staking in Solana ETF Filing
A notable component of CoinShares’ proposal involves staking. According to the filing, the fund plans to stake a portion of its SOL holdings through designated providers.
Although the initial staking partner has not been disclosed, the document states that staking rewards earned by the fund will be reinvested. The staking arrangement WOULD be finalized ahead of the trust’s formal launch, introducing a yield component to what would otherwise be a passive, price-tracking vehicle.
CoinShares joins seven other firms seeking approval for similar products. These include VanEck, 21Shares, Bitwise, Franklin Templeton, Canary Capital, Grayscale Investments, and Fidelity Investments.
All applicants aim to launch funds that mirror the price of SOL, Solana’s native asset and currently the sixth-largest cryptocurrency by market capitalization. The entry of multiple high-profile issuers suggests growing institutional interest in Solana as a tradable asset within US markets.
ETF Competition Heats Up as Regulatory Sentiment Evolves
The timing of CoinShares’ filing coincides with increasing speculation that the SEC may be softening its stance toward crypto spot ETFs. Last week, several asset managers, including VanEck and Franklin Templeton, reportedly amended their filings at the request of the SEC.
These amendments included additional details on in-kind redemptions and staking methodologies, indicating a shift in how regulators may approach products that incorporate on-chain functionality such as staking.
In parallel developments, Trump Media & Technology Group’s Truth Social platform has submitted its own ETF application. The proposed Truth Social Bitcoin and ethereum ETF aims to allocate approximately 75% of its assets to Bitcoin and the remainder to Ethereum.
Filed under FORM S-1, the ETF would be sponsored by Yorkville America Digital LLC, with flexibility to change the asset allocation ratio at its discretion. Foris DAX Trust Co. LLC is named as the custodian. Truth Social becomes the third known entity to pursue a dual crypto ETF product, joining Bitwise and Hashdex.
Meanwhile, firms such as Volatility Shares and ProShares have filed for similar offerings, but those are tied to crypto futures markets rather than spot assets. The range of filings reflects both investor demand and evolving regulatory engagement with the crypto ETF market.
Featured image created with DALL-E, Chart from TradingView
