Institutions Pile In as Solana Nears Third U.S. Spot ETF

A new regulatory filing suggests the next U.S. spot Solana ETF may launch much sooner than expected.

VanEck submitted a Form 8-A, a document typically filed only when an ETF is preparing to list, prompting speculation that trading could begin as early as the next session once final approval arrives. If it goes live, Solana would join Bitcoin and Ether as one of the few digital assets with an active U.S. spot ETF.

Institutional interest has already been building. Solana ETFs – led by Bitwise’s BSOL – have now recorded 13 straight days of inflows, bringing total net investment close to $370 million. Analysts say the steady inflow pattern matters more than daily totals, positioning Solana as a higher-risk complement to Bitcoin and Ether for large investors.

The ecosystem is also becoming more sophisticated. Grayscale recently enabled options trading for its GSOL ETF, giving hedge funds access to volatility and hedging strategies typically reserved for more mature markets.

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Meanwhile, SOL’s price has slipped to about $143, even as ETF demand grows. Analysts say the disconnect reflects broader crypto weakness rather than waning institutional interest.

If VanEck’s fund lists in the coming days, it will mark the first major expansion of the Solana ETF lineup — and reinforce how quickly Wall Street adoption of the asset is accelerating.