Solana ETF countdown to listing! Seven major asset management companies synchronously revised documents, and the stake yield model received tacit approval from the SEC.

Solana Spot ETF is about to become a reality! On September 26, seven top asset management companies including Fidelity and Franklin Templeton updated their Solana ETF application documents simultaneously, particularly detailing the staking yield mechanism. Analysts believe that this highly coordinated action indicates smooth communication with the SEC, and Solana ETF is expected to be approved for listing in the coming weeks. This will be another significant milestone in the crypto market following Bitcoin and Ethereum ETFs, which will have a profound impact on SOL prices and the entire crypto ecosystem.

Seven major asset management giants simultaneously revise Solana ETF documents

In the latest developments regarding cryptocurrency ETFs, a number of well-known asset management companies collectively updated their Solana ETF application documents last Friday. This highly coordinated action is viewed by market analysts as a strong signal that the Solana ETF is about to be approved.

The companies participating in this round of document revisions include:

· Fidelity (: The world's second largest Spot Bitcoin ETF manager

· Franklin Templeton )Franklin Templeton(: A traditional financial giant

· CoinShares: Europe's leading digital asset investment company

· Bitwise: A cryptocurrency asset management company focused on.

· Grayscale: One of the largest digital currency asset management companies

· Canary Capital: Emerging encryption asset management company

· VanEck: A traditional asset management company that entered the crypto ETF space early.

It is worth noting that BlackRock, which manages the largest spot Bitcoin and Ethereum ETFs in the market, has not yet applied for a Solana spot ETF. According to The Block's SOL ETF tracker data, BlackRock currently seems to be focusing on its existing Bitcoin and Ethereum products.

) Staking Returns: Unique Selling Points of Solana ETF

The core content of this document revision revolves around the Solana staking mechanism, which is also a key distinction between the Solana ETF and the previously approved Bitcoin and Ethereum ETFs.

· Fidelity's staking strategy

According to the revised application documents from Fidelity Investments, the company plans:

1. Hold some or all of the Solana tokens to stake for rewards.

2. Create additional value for ETF holders through stake.

3. Implement risk management measures to ensure the security of the staking process.

This staking model will enable the Solana ETF to not only provide price exposure but also bring additional staking returns to investors, which is relatively rare in traditional ETF products.

Analyst Prediction: Solana ETF is About to be Approved

Multiple industry analysts are optimistic about this round of document revisions, believing it is a clear signal that the Solana ETF is about to be approved.

Bloomberg senior ETF analyst James Seyfarth posted on social media platform X, stating that the latest round of revisions clearly indicates that “issuers and the SEC are taking action.” He further predicted: “Solana ETF may land on an exchange near you in the coming days/weeks.”

Seafort pointed out that the coordinated nature of these applications is similar to the situation at the end of August, when these issuers modified the application documents to allow for cash and physical redemptions. He believes that this coordinated revision indicates active communication between the issuers and the SEC.

Nate Geraci, the CEO of NovaDius Wealth, also welcomed the latest round of revisions, stating that this “is a good sign for spot ETH ETF staking.”

Geraci boldly predicts on social media: “Guess that these funds will be approved within the next two weeks,” clearly expressing confidence in the upcoming approval of the Solana ETF.

SEC Accelerates Approval Process: Impact of New Listing Standards

The U.S. Securities and Exchange Commission (SEC) recently “accelerated” the approval of new listing standards for cryptocurrency ETFs, significantly shortening the fund approval time. This policy adjustment creates favorable conditions for the rapid approval of the Solana ETF.

· Background of the SEC's Change in Attitude

The SEC's attitude towards cryptocurrency ETFs has undergone a significant change over the past year:

Early 2023: The SEC holds a strong opposition stance against crypto ETFs.

January 2024: The first Bitcoin Spot ETFs approved

July 2024: Ethereum Spot ETF Approved

September 2024: Simplified crypto ETF listing standards

This gradual regulatory opening paves the way for ETF products of other encryption assets like Solana.

Market performance of existing Solana investment products

Although pure Solana Spot ETFs have not yet been approved, there are already some products in the market that provide exposure to Solana prices:

· Hashdex Nasdaq Cryptocurrency Index US ETF: Recently expanded its products to include Stellar, XRP, and Solana, in addition to Bitcoin and Ethereum.

· Grayscale Mixed Offering Products: Approved by the SEC, providing exposure to a variety of crypto assets.

· REX-Osprey Solana stake fund: Launched in July, currently holding over 300 million dollars in assets.

The success of these products provides market validation for a pure Solana ETF, indicating that investors have a strong demand for Solana-related investment products.

Solana ETF Approval's Potential Impact on the Market

The approval of the Solana ETF will have multiple impacts on the crypto market:

· Impact on SOL Price

The approval of the Solana ETF may have a positive impact on the SOL price:

Short-term: The announcement effect may lead to a price increase.

Mid-term: Institutional capital inflow will provide ongoing support.

Long-term: Increase market recognition of Solana as a mainstream asset.

· Impact on the encryption ecosystem

The approval of the Solana ETF will further promote the mainstream adoption of encryption assets:

Regulatory Approval: The SEC's approval of the Solana ETF will enhance market confidence in the regulatory outlook for encryption assets.

Institutional Participation: Providing compliant channels for more institutional investors to access Solana.

Market maturity: Accelerating the development of the crypto market towards a more mature and regulated direction.

· Demonstration Effect on Other Altcoin ETFs

The approval of the Solana ETF may pave the way for other encryption asset ETF products:

Approval Template: Provide regulatory approval templates for other altcoin ETFs

Staking mechanism: Setting a precedent for ETF products with staking functionality.

Market Expansion: Expanding the scope and depth of the crypto ETF market

How should investors respond?

With the Solana ETF likely to be approved soon, investors can consider the following strategies:

Short-term Strategy

Pay attention to official announcements: closely monitor the official announcements from the SEC and the issuing company.

Assess market reaction: Observe SOL price response to related news.

Prepare investment decisions: Assess whether the Solana ETF is suitable for your investment portfolio.

Medium to Long-term Strategy

Compare different ETF products: Once multiple Solana ETFs are approved, compare their fees, stake yields, and liquidity.

Consider the pros and cons of direct ownership versus ETF: Evaluate the advantages and disadvantages of directly holding SOL versus investing through an ETF.

Diversified allocation: Incorporate Solana investments as part of a broader crypto investment portfolio.

Conclusion: A New Chapter in the Crypto ETF Market

The upcoming approval of the Solana ETF marks a new phase in the crypto ETF market. From Bitcoin to Ethereum, and now to Solana, the range of crypto ETF products is continuously expanding, providing more investors with opportunities to access crypto assets.

Especially the Solana ETF with staking features will bring innovation to the market, combining the convenience of traditional ETFs with the income potential of crypto staking. This innovation may become a standard feature of future crypto ETF products.

With the seven major asset management companies simultaneously updating their application documents, the approval of the Solana ETF seems to be just a matter of time. Investors should closely monitor related developments and prepare for this important market event.