Solana ETF Momentum Builds as CoinShares Joins Growing List of Applicants

In a significant development for the cryptocurrency market, CoinShares has filed for a Solana (SOL) Exchange-Traded Fund (ETF) with the U.S. Securities and Exchange Commission (SEC), becoming the eighth asset manager to do so. This move underscores the increasing institutional interest in regulated crypto investment products beyond Bitcoin and Ethereum. The proposed ETF, slated for listing on Nasdaq, aims to track SOL''s spot market performance, offering institutional investors a way to gain exposure to the digital asset without direct ownership. This filing follows amended staking disclosures by other issuers, highlighting the evolving regulatory landscape for crypto-based financial products. As of June 2025, the Solana ecosystem continues to attract mainstream attention, with this ETF application potentially paving the way for broader adoption and price appreciation of SOL in the institutional investment space.

CoinShares Files Solana ETF With SEC, Joins 7 Other Top Applicants

CoinShares has become the eighth asset manager to file for a Solana ETF in the U.S., signaling growing institutional interest in regulated crypto investment vehicles beyond Bitcoin and Ethereum. The fund, set to list on Nasdaq, will track SOL''s spot market performance, providing institutional investors with exposure to the digital asset without direct ownership.

The MOVE follows amended staking disclosures by other issuers, including industry heavyweights like Fidelity, VanEck, and Grayscale. Market analysts interpret this wave of filings as a vote of confidence in the regulatory clarity surrounding alternative digital asset products.

While CoinShares'' S-1 registration statement outlines the fund''s structure, the absence of a 19b-4 FORM means the formal approval process hasn''t yet commenced. Industry observers anticipate SEC approval within two to four months, with potential staking options likely to be incorporated following recent precedents set by competitors.

X Suspends Pump.fun and Memecoin Accounts in Apparent Crackdown

Social media platform X abruptly suspended Pump.fun''s official account and co-founder Alon Cohen''s personal handle on June 16, alongside other memecoin-related platforms including GMGN, Bloom Trading, BullX, and ElizaOS. The move, executed without explanation, has fueled speculation about potential policy enforcement or regulatory intervention targeting the memecoin sector.

Despite the account suspensions, Pump.fun''s website remains operational, continuing to facilitate the creation of Solana-based memecoins. The platform''s resilience underscores the decentralized nature of these assets, even as centralized social media channels face disruption.

Industry observers have floated various theories—from unauthorized API usage and pump-and-dump schemes to possible early-stage SEC scrutiny. The suspensions follow X''s November 2023 decision to disable Pump.fun''s livestream feature after it hosted violent threats and explicit content.

CoinShares Joins Solana ETF Race as Institutional Interest Grows

CoinShares has entered the competitive arena for a Solana-based exchange-traded fund (ETF), filing an S-1 application with the U.S. Securities and Exchange Commission. This marks the eighth such proposal, following similar moves by VanEck, Grayscale, and Fidelity. The surge in institutional filings reflects deepening confidence in Solana''s market position and regulatory viability.

Solana''s price trajectory underscores the momentum, climbing over 5% amid bullish technical indicators. Analysts identify $157 as a critical resistance level, with breakout scenarios projecting targets between $250 and $270. Bloomberg ETF researchers now speculate Solana could be next in line for regulatory approval after Bitcoin and ethereum products.

The flurry of filings—many incorporating staking mechanisms—signals a maturation of crypto investment vehicles. While regulatory hurdles remain, asset managers appear increasingly willing to bet on Solana''s long-term institutional adoption. Market participants await SEC responses as the ETF landscape evolves beyond flagship cryptocurrencies.

Ubyx Raises $10M to Launch Stablecoin Clearing Platform

Ubyx, a startup specializing in stablecoin transaction clearing, has secured $10 million in seed funding. The investment round was spearheaded by Galaxy Ventures, with additional backing from Founders Fund and Coinbase Ventures. Founded by ex-Citigroup executive Tony McLaughlin, the firm aims to streamline cross-blockchain stablecoin transfers.

The platform is slated for launch by late 2025, with initial support for solana and Base networks. This development signals growing institutional confidence in blockchain interoperability solutions as stablecoin adoption accelerates.

Could Solana Price Hit $120 After ‘Pump.Fun’ 4.1 M SOL Sell-Off?

Solana''s price trajectory in Q2 showcased a dramatic ascent, climbing 93.5% from $96 in April to $187 by late May. The rally faltered by month-end, with a 20% retracement testing the $144 support level—a critical threshold identified by volume analysis tools.

Market Optimism in June faced a sharp reversal when Pump.fun, a controversial Solana-based memecoin launchpad, offloaded 4.1 million SOL holdings. The move triggered alarm across crypto markets, compounded by X (formerly Twitter) suspending both the platform''s and founder Alon Cohen''s accounts. Speculation swirls around potential regulatory scrutiny or operational shutdowns.

Pump.fun''s reputation as a breeding ground for pump-and-dump schemes adds volatility to Solana''s outlook. The sell-off raises questions about retail investor confidence and the ecosystem''s ability to absorb large liquidations. Technical indicators suggest $120 could emerge as the next psychological battleground for SOL traders.

Solana ETF Momentum Builds as SEC Advances Approval Process

Solana''s case for a U.S. spot ETF grows stronger amid surging institutional interest and regulatory progress. The SEC''s recent request for amended S-1 filings by June 2025 signals a critical step toward approval, with Bloomberg Intelligence assigning a 90% probability to Solana joining the ETF arena.

Staking remains a focal point of uncertainty. While multiple issuers have incorporated staking features into revised proposals, regulatory clarity remains pending. Analysts caution that final approval hinges on the SEC''s evolving stance—particularly after Ethereum''s anticipated staking inclusion.

On-chain metrics and DeFi growth underscore Solana''s readiness. A $39M whale transfer this week amplified market attention, reinforcing SOL''s position as the altcoin to watch in 2024''s ETF race.