Analysts expected more Solana ETFs to go live in 2025, as investors chase yield-bearing opportunities through staking and network validation.
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Asset manager CoinShares withdrew its Securities and Exchange Commission (SEC) application for a staked Solana exchange-traded fund (ETF) on Friday.
The structuring deal and asset purchase behind the proposed fund were never completed, according to the SEC , which states:
“The Registration Statement sought to register shares to be issued in connection with a transaction that was ultimately not effectuated. No shares were sold, or will be sold, pursuant to the above-mentioned Registration Statement.”
The first staked Solana () ETF, issued by REX-Osprey, in June, followed by investment company Bitwise’s staked SOL ETF in October.
Bitwise’s ETF launched with nearly on its first day of trading, managing to rack up about half the value accrued in the REX-Osprey ETF, which had been trading for months at that point, to ETF analyst Eric Balchunas.
Despite the launch of the staked Solana ETFs and investor demand for these products, the and has been in a downtrend since September’s high of over $250 per coin.
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Solana ETFs during November, as investors chased the yield-bearing opportunities of staked SOL investment vehicles advertising 5-7% staking rewards.
The Solana ETFs exhibited by BTC and Ether () ETFs that experienced record outflows during October and November by clocking multiday inflow streaks, even as crypto prices were collapsing.
Analysts previously forecasted due to capital inflows from ETFs. Still, price projections have been revised down since October, with some analysts now saying that .
SOL’s price of approximately $120 in November, representing a 60% reduction from its all-time high of around $295 reached in January 2025.
The token’s meteoric rise in January was attributed to the on the network, fueling memecoins trading on Solana.
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