Solana ETF Race Heats Up as Fidelity, Franklin Templeton, and Grayscale File Applications

Wall Street's biggest players are placing their bets on Solana.

The ETF floodgates have officially opened for the high-speed blockchain, with Fidelity, Franklin Templeton, and Grayscale all submitting applications in a coordinated surge that signals institutional conviction.

Why Solana Matters Now

Solana's blistering transaction speeds and growing developer ecosystem finally caught Wall Street's attention. The blockchain processes transactions at a fraction of Ethereum's cost—making it increasingly attractive for mass adoption.

The Institutional Stampede

Fidelity brings its massive retail investor base. Franklin Templeton adds traditional finance credibility. Grayscale offers existing crypto fund infrastructure. Together, they represent the most serious institutional push Solana has ever seen.

This isn't just speculation—it's infrastructure building. Each filing represents millions in legal and operational groundwork, suggesting these firms see real long-term potential beyond the current crypto cycle.

What This Means for Crypto

Solana ETF approvals would create the first real competition for Bitcoin and Ethereum in the regulated investment space. It validates the multi-chain thesis that's been brewing in crypto circles for years.

The SEC now faces pressure to treat Solana as a legitimate asset class rather than just another altcoin. Though given the regulator's track record, they'll probably wait until Solana hits another ATH before deciding it's 'too risky' for retail investors.

Wall Street finally understands what crypto natives knew years ago—speed matters. And Solana delivers.

Crypto ETFs are stealing the spotlight as filings, approvals, and new products gather pace.

The mix of Wall Street institutions and crypto-native firms rushing into the space could change how investors gain exposure to digital assets. 

The next few weeks may set the stage for a breakthrough. Here’s why. 

Major Players File S-1 Amendments for Spot Solana ETFs

Nate Geraci, president of The ETF Store, recently shared that a flurry of S-1 amendments were filed on spot solana ETFs from major players such as Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary.

Another flurry of S-1 amendments filed today on spot SOL ETFs…

Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, & Canary.

Includes staking (yes, bodes well for spot eth ETF staking).

Guessing these are approved w/in next two weeks. pic.twitter.com/g13NDFKSEU

He pointed out that these filings even include staking components, a positive sign for future spot Ethereum ETF products. He expects that the approvals could land within the next two weeks, fueling even more Optimism across the industry.

Bloomberg analyst James Seyffart also shared that this is a sign that both issuers and the SEC are moving things forward.

Solana ETFs See Strong Demand

This momentum comes after the launch of the REX-Osprey Solana Staking ETF in July, the first of its kind in the U.S. REX Osprey also recently launched the first ethereum staking ETF in the U.S., marking a major milestone for investors.

Building on the recent buzz around Solana ETFs, Bitwise CEO Hunter Horsley shared that $60 million was invested in the Europe Bitwise Solana Staking ETP this week, highlighting strong investor interest in Solana.

$60,000,000 into the Europe Bitwise Solana Staking ETP this week —

Solana on people's minds. https://t.co/J3megoQwTO

Cyber Hornet Targets S&P-Crypto ETFs

While Solana leads the headlines, Cyber Hornet is carving a different path. The company has filed with the SEC to launch ETFs that combine exposure to the S&P 500 with cryptocurrencies. Each proposed fund WOULD hold 75% in the S&P 500 and 25% in a specific digital asset.

The proposed ETFs include the Cyber Hornet S&P 500 and Ethereum 75/25 Strategy ETF (EEE), the S&P 500 and Solana 75/25 Strategy ETF (SSS), and the S&P 500 and XRP 75/25 Strategy ETF (XXX).

These filings reflect the rising trend of combining traditional Wall Street indices with cryptocurrencies beyond Bitcoin.

CYBER HORNET just filed for an S&P + XRP ETF with the ticker $XXX Eth and Solna + SPX too pic.twitter.com/8wFe9X5gUL

Breakthrough Month Ahead?

Geraci notes how wild the past two weeks have been for crypto ETFs. The industry saw the first spot XRP and Doge ETFs launch, the SEC sign off on new generic listing standards, the debut of an index-based spot crypto ETF, and even the first Ethereum staking ETF. To top it off, Bitwise jumped in with a “hype” ETF filing.

Meanwhile, Vanguard, the world’s second-largest asset manager, is now preparing to provide access to crypto ETFs on its brokerage platform, marking a significant shift in stance.

“Get ready for October,” he said, signaling that the next few weeks could be a game-changer for crypto ETFs. Industry experts also see the crypto market entering a potential “SOL Season” citing strong market momentum and favorable regulatory signals for Solana.