Solana (Sol) is attracting the attention of new institutions as key asset managers, including Franklin Templeton, Grayscale, Vaneck and Fidelity, have updated Solana ETF filings with the U.S. Securities and Exchange Commission (SEC).
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Token prices have temporarily dropped following the news, but long-term metrics suggest that the move could be a major bullish trigger.
Asset Manager fixes Solana ETF filing in SEC dialogue
As of August 1, at least seven asset managers have submitted an amended S-1 registration statement for the Solana-based ETF.
These updates currently include staking clauses and a more clearer custodianning structure, reflecting ongoing discussions with the SEC. In particular, Grayscale’s updated proposal introduces an annual fee of 2.5% in SoL, while the Vaneck version includes active staking rewards and double admins.
These moves are considered part of a strategy tailored to SEC’s expectations, particularly after the Commission recently approved the in-kind redemption structure for Bitcoin and Ethereum ETFs. Marketwatchers believe decisions regarding the Solana ETFS could arrive in late August or September 2025.
Sol Price responds carefully, but builds long-term momentum
Surprisingly, Solana’s prices fell more than 3% after submitting ETFs, closing at $170.24. This suggests that the news may already be priced, or that traders are cautious amid wider market uncertainty.
The technical indicators have shown terrible momentum, with Sol struggling to surpass its main support zone at $170 and $158. Approaching over $180 could rekindle bullish emotions, while drops below $158 could indicate a deeper correction to $145 or $130.
Sol prices move sideways following a major price spike in the daily chart. Source: solusd on tradingView
What does Solana ETF approval mean for Sol?
The short-term volatility lasts, but the broader implications of Solana ETF approval are substantial. Greenlight from the SEC can justify Solana as a mainstream investment asset, increase market liquidity and open the door for more institutional adoption. Solana is well placed to benefit from Sol and mature ecosystems with over $60 billion in regulations.
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In the coming weeks, all eyes will remain in Washington. But for long-term investors, this could be milder before a potential breakout.
ChatGpt cover image, SolUSD chart for TradingView
