Key Insights:
- CoinShares submitted its S-1 form to the U.S. SEC, joining other ETF issuers in the race to launch spot Solana ETF.
- Bloomberg analysts confirmed details on staking and risks, but the filing still lacked fees, ticker, and other crucial details, expecting a new filing.
- Analysts are bullish on SOL price hitting $300 after approval, but a popular analyst pointed out a bullish pattern targeting $298.
CoinShares has submitted its S-1 form to the U.S. Securities and Exchange Commission (SEC) to launch a spot Solana ETF. It has joined the race with seven other spot Solana ETF issuers such as Fidelity, Grayscale, Bitwise, and Canary filed updated S-1 on last Friday.
The move fueled a recovery in the SOL price and Solana-based crypto tokens. The bullish sentiment has prompted analysts to target SOL price target as high as $300.
CoinShares Updates Spot Solana ETF Filing
European asset manager CoinShares submitted Form S-1 to launch its spot Solana ETF, as per a filing with the US SEC on June 16. The filing mentions CoinShares Co as the sponsor, with Coinbase Custody and BitGo Trust as custodians. The filing also disclosed plans to stake a portion of the fund’s SOL holdings.
CoinShares became the eighth issuer to seek SEC approval for a spot Solana ETF. Other filers include VanEck, 21Shares, Bitwise, Franklin Templeton, Canary Capital, Grayscale Investments, and Fidelity Investments.
Bloomberg senior ETF analyst Eric Balchunas confirmed CoinShares jumping into the Solana spot ETF race by saying, “I think we are up to 8 now.”
Moreover, Bloomberg ETF analyst James Seyffart commented on how staking could impact spot Solana ETF flow. He said “If they include staking the net flows could be better out the gate vs ETH’s launch. If they launch without staking i’d prolly say very unlikely.”
The two experts briefly discussed whether BlackRock could file for a spot Solana ETF, keeping the global crypto market speculating.
CoinShares’ Swift Move to Register Trust in Delaware
CoinShares quickly moved to register for the Solana ETF Trust in Delaware last week. The filing grabbed attention from the crypto market participants, sparking bullish prospects over the approval of a spot Solana ETF by the SEC.
Notably, the U.S. Securities and Exchange Commission (SEC) asked the issuers to update language regarding in-kind redemptions and how issuers would approach staking.
Bloomberg ETF analysts raised odds for approval from 80% to 90%. They believed that REX-Osprey ETH and SOL staking ETFs filed under the Investment Company Act of 1940 might have influenced the SEC’s decision. Balchunas believed ETFs tracking Solana price may get approved within 2 to 4 months.
On Friday, $1.7 trillion asset manager Invesco and Mike Novogratz’s Galaxy Digital, as part of their partnership, also registered for Solana ETF Trust in Delaware. Invesco Galaxy Solana ETF Trust could likely file its S-1 this week.
SOL Price to Hit $300?
Solana (SOL) price jumped more than 6% in the past 24 hours, with the price trading at $157.85 at the time of writing.
The 24-hour low and high were $148.55 and $157.65, respectively. Despite the recovery, the price was down compared to last week.
Furthermore, the trading volume increased by 45% in the last 24 hours, leading the crypto market recovery with other Solana-based tokens.
The ETF talks were not enough to bring a considerable recovery as the SEC’s decision was still pending.
Meanwhile, analyst Marty Party pointed out a bullish pattern formation on Solana daily chart. He predicted $278 as target SOL price based on the inverse head and shoulders pattern formation.
However, other analysts expect SOL to spike above the $200 psychological level first to confirm a bullish rally in SOL price. The last time Solana was trading above $200 was in January this year. Since then, the price has failed to hit even $180, keeping traders cautious.
The post CoinShares Files S-1 for Spot Solana ETF, SOL Price Targets $300? appeared first on The Coin Republic.
Source: https://www.thecoinrepublic.com/2025/06/16/coinshares-files-s-1-for-spot-solana-etf-sol-price-targets-300/