Why Solana Could Skyrocket: Multiple Asset Managers File Revised ETF Applications to SEC

[Ben Graham]

Solana (SOL) is attracting renewed institutional attention as major asset managers including Franklin Templeton, Grayscale, VanEck, and Fidelity have updated their spot Solana ETF filings with the U.S. Securities and Exchange Commission (SEC).

While the token’s price briefly dipped following the news, long-term indicators suggest this move could be a major bullish trigger.

Asset Managers Revise Solana ETF Filings Amid SEC Dialogue

As of August 1, at least seven asset managers submitted amended S-1 registration statements for Solana-based ETFs.

These updates, which now include staking provisions and clearer custodianship structures, reflect ongoing discussions with the SEC. Notably, Grayscale’s updated proposal introduces a 2.5% annual fee in SOL, while VanEck’s version includes active staking rewards and dual custodianship.

These moves are viewed as part of a coordinated strategy to align with SEC expectations, especially after the Commission recently approved in-kind redemption structures for Bitcoin and Ethereum ETFs. Market watchers believe a decision on Solana ETFs could arrive as early as late August or September 2025.

SOL Price Reacts Cautiously, But Long-Term Momentum Builds

Surprisingly, Solana’s price dropped by over 3% following the ETF filings, closing at $170.24. This suggests the news may already be priced in, or that traders remain cautious amid broader market uncertainty.

Technical indicators show bearish momentum, with SOL struggling to stay above key support zones at $170 and $158. A close above $180 could reignite bullish sentiment, while a drop below $158 may signal a deeper correction toward $145 or $130.

What Solana ETF Approval Could Mean for SOL

While short-term volatility persists, the broader implications of Solana ETF approval are substantial. A greenlight from the SEC could legitimize Solana as a mainstream investment asset, increase market liquidity, and open the door for more institutional adoption. With over $60 billion in staked SOL and a maturing ecosystem, Solana is well-positioned to benefit once regulatory clarity arrives.

In the coming weeks, all eyes remain on Washington. But for long-term investors, this could be the calm before a potential breakout.

Cover image from ChatGPT, SOLUSD chart from Tradingview