Fidelity, VanEck and Others Amend S-1 for Spot Solana ETF With Staking — Approval Could Come in Weeks

Several leading asset managers, including Fidelity, Franklin Templeton, CoinShares, Bitwise, Grayscale, Canary Capital and VanEck, have amended their S‑1 filings to disclose staking activity for proposed Solana ETF allocations. The filings explicitly reference the use of Form S‑1 processes and note operational plans to stake part or all holdings to generate protocol rewards while complying with existing custody and valuation controls.

Market observers and issuer comments, including a note from Bloomberg analyst James Seyffart and industry spokespersons, characterize the amendments as evidence of ongoing dialogue with the SEC. Issuers caution that product timelines remain subject to regulatory review. The filings also contrast the current S‑1 approach with the previous REX‑Osprey pathway under the 1940 Act, underscoring material legal and liquidity differences versus a standard spot Solana ETF filed under the 1933 Securities Act.