Several Solana exchange-traded fund (ETF) proposals, including staking, may get US approval by mid-October. Major asset managers filed updated S-1s for spot Solana ETFs, indicating rising institutional demand. Solana is seen as the next altcoin for institutional adoption, with strong inflows. ETF momentum aligns with market commentary positioning SOL for institutional adoption. Analysts believe October is a significant month for digital asset products.

Franklin Templeton, Fidelity, and other major firms filed updated documents for proposed spot Solana ETFs. Approvals could come within the next two weeks. The REX-Osprey Solana Staking ETF launched with $33 million in trading volume and $12 million in inflows. Solana staking ETPs are gaining investor interest and may pave the way for Ethereum ETF approvals.

Bitcoin exchange-traded products hold over 1.47 million BTC, with US-based ETFs leading. BlackRock’s IBIT holds 746,810 BTC, Fidelity’s FBTC has nearly 199,500 BTC. However, Bitcoin ETPs saw $301 million in outflows in August, while Ethereum funds attracted $3.95 billion. Large holders are shifting from BTC to ETH ahead of key ETF developments.

The SEC is reviewing 92 crypto ETF applications, with decisions expected by October. Applications linked to Solana, XRP, and Litecoin face final decisions. Growing interest in altcoin-focused ETFs could attract fresh capital to the crypto market. Analysts believe broader altcoin exposure and yield generation could reshape the market.

Read more at Yahoo Finance: Solana ETF Approvals Could Arrive by Mid-October, Says Analyst