Solana ETF Drama: S-1 Sparks October Frenzy

by

In the perfumed hush of financial theater, 21Shares-an issuer who wears ambition like a velvet hat-has filed an updated S-1 for its Solana ETF, sketching fresh details about staking and in-kind redemptions with the coquettish precision of a dancer penning a moonlit note to no one in particular. 😏

The SEC, that meticulous arbiter of market morals, is poring over the manuscript, with October’s verdicts promised like an autumn sunset. The amendment reveals how redemptions in kind would pirouette from fund to investor and clarifies the choreography of staking procedures, all performed under the watchful eye of a room full of clocks. ⏳💫

Other conductors of the ETF orchestra-Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary-have also dusted their own S-1s with revisions as they respond to the SEC’s whispers. Currently, about nine applications for Solana ETFs are pending with the SEC. 🎭

🚨UPDATE: @21shares has also filed an updated version of its Spot @Solana ETF S-1 application.

– SolanaFloor (@SolanaFloor) September 29, 2025

October’s Verdict Could Ripple Through Markets

Meanwhile, October grows its wings like a gossiping bat, portending drama for the crypto milieu. Several applications-Solana, XRP, Litecoin, Cardano, and more-await the SEC’s kiss of approval. Deadlines fan out through the month, and the agency has lately dispensed with delay notices, leaving the stage cleared for possible approvals. 🦇✨

Earlier this month, the SEC granted a bow to revised listing standards for crypto ETFs, a move that may have streamlined the approval waltz. 🧭

Under the new rules, a crypto ETF must be listed on a heavily monitored market, carry a futures contract overseen by the CFTC for six months, or be linked to an existing ETF holding at least 40% of the cryptocurrency. 🧩

Read More

2025-09-29 23:49