Solana ETF Nears SEC Approval—Grab Your Popcorn

The crypto world''s holding its breath as rumors swirl about a potential Solana ETF greenlight from the SEC. Could be weeks—could be never. But hey, Wall Street''s gotta find something new to over-leverage after burning through Bitcoin and Ether.

Sources whisper the approval''s imminent, though we''ve heard that before. Solana''s tech stack—fast, cheap, and occasionally functional—makes it a prime candidate for the ETF treatment. Just don''t ask about those pesky network outages.

If it happens, prepare for the usual circus: institutional money flooding in, wild price swings, and at least one CNBC host mispronouncing ''proof-of-history.'' Meanwhile, retail traders will be left deciphering whether this is actual adoption or just another liquidity trap dressed in blockchain buzzwords.

Solana following Bitcoin and Ethereum ETF plans

Grayscale is aiming to convert its existing SOL Trust into a spot ETF, following the blueprint it used for its Bitcoin (BTC) and ethereum (ETH) products. The SEC formally acknowledged Grayscale’s Solana ETF proposal in February, a significant shift given its past resistance to such filings.

While the SEC delayed its decision on Grayscale’s Solana ETF in May, it stated it had not yet reached any conclusions. The delay was seen as procedural rather than a rejection. 

Market observers took that as a positive sign, particularly after CME launched SOL futures in February, mirroring steps taken ahead of Bitcoin and Ethereum ETF approvals.

CME’s launch of SOL futures has already led to the introduction of SOL futures ETFs, including two from Volatility Shares. 

Following the historic approval of spot Bitcoin ETFs in January 2024 and Ethereum ETFs in May 2025, attention has now turned to other top digital assets like Solana. The very existence of futures markets often paves the way for spot ETF approval, as seen with BTC and ETH.