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21Shares Updates Solana Etf Filing Ahead Of Sec October Decisions
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21Shares Updates Solana ETF Filing Ahead of SEC October Decisions

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21Shares, an ETF issuer, has filed an updated S-1 for its proposed Solana (SOL) ETF, providing fresh details on staking and in-kind redemptions

The U.S. Securities and Exchange Commission (SEC) is reviewing the filing, with decisions expected in October. The amendment explains how the fund would handle redemptions in kind and clarifies staking procedures. 

Other issuers, including Franklin, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, have also submitted similar revisions in recent days as they actively respond to SEC feedback. Currently, about nine applications for Solana ETFs are pending with the SEC. 

SEC Decisions in October Could Shake The Markets

Meanwhile, October is gaining significance as a month for the crypto sector.The Several applications, including ETFs related to Solana, XRP, Litecoin, as well as Cardano, are expected to be decided upon by the SEC. Deadlines for these filings are spread throughout the month, and the SEC recently removed all delay notices, leaving the door open for approvals.

Earlier this month, the SEC approved updated listing standards for crypto ETFs, which may have streamlined the approval process.

Under the new rules, a crypto ETF must be listed on a heavily monitored market, have a futures contract overseen by the CFTC for six months, or be linked to an existing ETF holding at least 40% of the cryptocurrency.

Also Read: Polkadot’s Community Supports Plans For a DOT-Backed Stablecoin



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Spot Crypto ETFs See $1.4B Outflows As Bitcoin, Ether Slump
Crypto Trends

21Shares launches first dYdX ETP for institutional investors

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Switzerland-based 21Shares, one of Europe’s largest issuers of crypto exchange-traded products, has launched the first fund tied to dYdX, a decentralized exchange (DEX) specializing in perpetual futures.

According to an announcement shared with Cointelegraph, dYdX has processed over $1.4 trillion in cumulative trading volume and lists over 230 perpetual markets. The dYdX Treasury subDAO supports the physically backed product through a decentralized finance (DeFi) treasury manager, kpk.

By positioning dYdX within a regulated exchange-traded product (ETP), 21Shares said it is creating an on-ramp for institutions.

“This launch represents a milestone moment in DeFi adoption, allowing institutions to access dYdX through the ETP wrapper – utilizing the same infrastructure already in use for traditional financial assets,” Mandy Chiu, head of financial product development at 21Shares, said in the statement.

Staking, or locking up tokens to help secure a blockchain network in exchange for rewards, will be added shortly after launch, a 21Shares spokesperson told Cointelegraph. “Will introduce DYDX staking and an auto-compounding feature — generating rewards auto-compound into DYDX token buybacks.”

The release also outlined dYdX’s expansion roadmap, including Telegram-based trading later this month, a forthcoming spot market starting with Solana, perpetual contracts tied to real-world assets such as equities and indexes, along with a fee discount program for dYdX stakers and broader deposit options spanning stablecoins and fiat.

The 21Shares dYdX ETP will launch on Euronext Paris and Euronext Amsterdam under the ticker symbol DYDX.

Related: Hyperliquid token gains institutional access with new 21Shares ETP

Kraken, Cboe and Bitget highlight demand for crypto derivatives

The launch of the dYdX ETP comes as both traditional and centralized crypto exchanges are expanding their crypto derivatives offerings — financial contracts that let traders speculate on the price of digital assets without owning them directly.

In the US, Kraken launched its CFTC-regulated derivatives arm in July following a $1.5 billion acquisition of futures broker NinjaTrader. The derivatives platform provides access to CME-listed crypto futures.

On Tuesday, Cboe, one of the world’s largest exchange operators, announced its plans to launch “continuous futures” for Bitcoin and Ether on Nov. 10, pending regulatory review. The contracts will be listed on the Cboe Futures Exchange and designed as single, long-dated products with 10-year expirations.

Cboe said the contracts are modeled on perpetual-style futures that dominate offshore markets but have not been available in a US-regulated setting until now. The exchange described them as giving institutional and retail traders long-term crypto exposure within a centrally cleared, intermediated framework.

Meanwhile, Bitget, a Singapore-based cryptocurrency exchange, reported $750 billion in derivatives volume for August, bringing its cumulative total to $11.5 trillion since launch.

The exchange ranked among the top three global futures venues for Bitcoin and Ether open interest during the month, with BTC futures surpassing $10 billion and ETH open interest trending above $6 billion.

Futures vs. Perpetuals volume growth over the past year. Source: CoinMarketCap

The first regulated crypto derivatives were launched in December 2017, when Cboe and CME introduced cash-settled Bitcoin futures. While Cboe exited the market in 2019 due to low volumes, CME’s contracts grew to dominate US crypto derivatives trading.

Open interest in crypto derivatives, the total value of active futures and perpetual contracts that traders hold, is currently about $3.96 billion in futures and $984 billion in perpetuals, according to CoinMarketCap data.

Magazine: Move to Portugal to become a crypto digital nomad — Everybody else is



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21Shares Seeks Launch of SEI ETF With Potential Staking Yield for US Investors

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In brief

  • 21Shares filed with the SEC for the first SEI ETF tracking the Sei blockchain token with potential staking rewards for additional yield.
  • The application joins a set of altcoin ETF filings as fund managers target smaller digital assets beyond Bitcoin and Ethereum.
  • Canary Capital filed a similar SEI ETF application in May.

Asset management firm 21Shares has filed with the Securities and Exchange Commission to launch an exchange-traded fund tracking the Sei blockchain’s native token.

The proposed 21Shares SEI ETF would offer investors exposure to SEI while providing the potential for additional yield through staking rewards, according to a registration statement filed Thursday. 

Following successful launches of spot Bitcoin and Ethereum ETFs in 2024, fund managers are targeting smaller digital assets, including Solana, Dogecoin, XRP, and other altcoins under a crypto-friendly Trump administration.

The Trust’s primary objective is “to seek to track the performance of SEI,” with a secondary focus on generating “rewards from staking a portion of the Trust’s SEI,” the filing reads.

It’s “highly likely that 21Shares’ SEI ETF would be accepted and would be available along with Bitcoin and Ethereum ETFs,” Krishnendu Chatterjee, CEO and co-founder of A2ZCryptoInvestment, told Decrypt. 

“21Shares SEI ETF is a step towards broader application towards regulated alt investment (including staking benefits),” he added.

Still, 21Shares confirmed it has not yet concluded that staking can be offered under a public trust structure, according to the prospectus.

The Trust will use Coinbase Custody Trust Company as its primary custodian for SEI holdings, while Coinbase Inc. will serve as the prime broker for trading activities, according to the filing.

The move adds to Canary Capital’s filing of the first SEI ETF application in May, which also shares similar staking objectives.

Multiple crypto ETF applications are now in play and face SEC decision deadlines in October, with regulators extending review periods for spot XRP funds from several issuers and Solana ETF proposals, among others. 

Industry experts widely expect a batch of approvals beginning in October based on established listing standards.

“Along with Digital Asset Treasury Companies, ETFs provide exposure to a new asset class for institutions, and it is not an exception but would become a new normal,” Chatterjee said, noting “XRP, Solana, and AVAX ETFs have high chances of getting approved by year’s end, even if not by October.”

SEI currently ranks as the 74th largest crypto by market capitalization at approximately $1.82 billion. 

The token is trading around $0.30 following recent gains, according to CoinGecko, though it remains about 73.7% below its March 2024 all-time high of $1.14.

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