CoinShares has officially joined the race for a spot Solana ETF after filing an S-1 form with the U.S. Securities and Exchange Commission. The company becomes the eighth major player to pursue a Solana-based exchange-traded fund highlighting growing institutional interest in the blockchain’s potential.

The filing follows similar moves by firms like Fidelity, Grayscale, VanEck and Franklin Templeton. Unlike the recently approved Ethereum ETFs these Solana filings include staking features which allow funds to earn rewards in addition to tracking SOL’s price. That could make these ETFs even more appealing to retail and institutional investors.

Solana’s strong performance low fees and fast transactions make it a top candidate for the next wave of crypto ETFs. With multiple firms now backing the idea and staking becoming a key feature the crypto community is watching closely to see how the SEC will react. Approval could signal a major step forward for the broader adoption of crypto-backed investment products.