<ul data-eligibleForWebStory="true">CoinShares has filed an S-1 form with the SEC to launch a spot Solana ETF, staking a portion of its SOL holdings for rewards.This move makes CoinShares the eighth firm seeking approval for SOL-based exchange-traded products.The proposed 'CoinShares Solana ETF' would track Solana's price and utilize Coinbase Custody and BitGo Trust as custodians.The ETF plans to stake SOL holdings through undisclosed providers to generate additional yield.Firms like VanEck and Franklin Templeton have amended S-1 submissions with new staking and redemption mechanics following SEC requests.Industry experts view this as progress towards regulatory clarity.Bloomberg's Eric Balchunas suggests potential approval for Solana ETFs within two to four months.Issuers urge the SEC to honor the 'first-to-file' principle in granting approvals, impacting launch order and market positioning.Recent Bitcoin and Ethereum ETF approvals have paved the way for broader digital asset adoption.Solana emerges as a promising Layer 1 candidate, with ETF filings for other assets like Litecoin, XRP, and Dogecoin under review.CoinShares' ETF filing reflects growing institutional interest in diversified crypto exposure beyond BTC and ETH.Investors seek alternatives with robust ecosystems and scalability, with Solana's high throughput and low fees meeting demand.Solana's price near $156 remains strong amid speculation of ETF approval, indicating investor confidence during market fluctuations.