CoinShares Has Officially Registered a Solana ETF in Delaware Today

The move comes as the U.S. Securities and Exchange Commission (SEC) asked issuers to file updated S-1

CoinShares, a leading digital asset investment firm, has officially registered its Solana ETF in Delaware. The move comes quickly following the U.S. Securities and Exchange Commission’s (SEC) request for issuers to file updated S-1 filings for their Solana ETF applications.

According to a filing with the Delaware Division of Corporations dated June 10, CoinShares has registered for the ‘Solana ETF Trust.’ The filing indicates that CoinShares is preparing to move forward with its application for an ETF to track the price of Solana (SOL) cryptocurrency.

The latest development follows the SEC’s feedback to potential Solana ETF issuers. On Tuesday, the SEC asked the issuers to file an updated S-1 form, highlighting the importance of clear and complete disclosures.

Several firms, including Grayscale, Fidelity, VanEck, 21Shares, and Bitwise, have filed for spot Solana ETFs. The SEC's request for issuers to update language regarding in-kind redemptions and how issuers would approach staking also underscores the regulator's attention to detail in these applications.

Earlier this week, Bloomberg senior ETF analyst Eric Balchunas mentioned the possibility of Solana ETFs being approved within two to four months. With a 90% chance of approval, it appears the SEC is advancing rapidly on its decision.

"It's def among the most likely to be out first, but Osprey forcing their Solana 40 act filing effective may have sparked the SEC to act faster on the Solana ones," Balchunas noted.

As the SEC judges the filings, it's crucial to remember that the regulator has already approved several Bitcoin and Ethereum futures ETFs, paving the way for the approval of spot crypto ETFs.