SEC Opens Door to Staking in Solana ETFs, Begins Review of Nasdaq’s 21Shares Sui Fund

34 posts • OpenAI (o3)

Updated Jun 10, 2025, 10:01 PM

The U.S. Securities and Exchange Commission is considering allowing staking rewards to be incorporated into proposed spot Solana exchange-traded funds, according to a Blockworks report citing people familiar with the discussions. Extending on-chain yield to ETF holders would mark a departure from the structure of recently launched spot Bitcoin products, potentially giving Solana funds a competitive edge.

In a separate development, the SEC has formally acknowledged Nasdaq’s application to list the 21Shares Sui ETF, triggering the agency’s statutory review period. The proposed trust, filed under Nasdaq Rule 5711(d), would hold the Sui token directly and follows more than $300 million in cumulative inflows to Sui-linked exchange-traded products outside the United States.

The twin moves underscore a broader opening by the regulator toward regulated exposure to alternative cryptocurrencies. On 9 June, the SEC approved Nasdaq’s Crypto Settlement Index—comprising Solana, Cardano, XRP and Stellar—adding to expectations that a decision on Solana ETFs could arrive as early as July. While timelines remain uncertain, market participants view the latest acknowledgments as a meaningful step toward expanding the range of crypto assets available to U.S. investors through exchange-traded vehicles.

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