Applications for the Solana ETF have begun with the SEC, while Wall Street is abuzz with discussions of cryptocurrencies. Following VanEck's filing for the Solana (SOL) Trust, asset manager 21Shares filed for the "21Shares Core Solana ETF." Both applications eliminated cryptocurrency staking, which has become common among cryptocurrency ETFs.

Despite the hype, experts, including Wintermute CEO Evgeny Gaevoy, believe that the launch of an ETF on SOL will be practically impossible until next year. Gaevoy also predicted that low capital inflows into ETH ETFs could discourage investors from purchasing other crypto investment products. 😕

Defining Solana coin as a commodity rather than a security has become a common theme in ETF filings on SOL.