Seven asset managers, including Fidelity, 21Shares, and Grayscale, have submitted updated Solana Spot ETF applications to the SEC. (Source: June 14, 2025 Clickout Media)
These filings, known as S1 applications, detail the underlying asset, risks for investors, and fee structures. The SEC's decision on the Solana Spot ETF is expected by October due to expiring deadlines. Bloomberg analysts estimate a 90% chance of approval this year.
If approved, Solana could enter a new phase, moving closer to regulation and the mainstream financial market. However, the ETF will not be tradable in Germany and much of the EU due to UCITS regulations requiring high diversification.
Solaxy, a Layer 2 solution for Solana, aims to address network issues by processing overflow transactions outside the mainnet. The native token SOLX is currently available in a presale.