Key Takeaways
- The SEC is urging Solana ETF issuers to refile applications by the end of July, indicating possible fast-track approval before October.
- If approved, spot Solana ETFs would join Bitcoin and Ether ETFs as the only approved spot crypto funds in the US market.
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Wall Street’s top regulator, the SEC, is urging applicants for spot Solana ETFs to amend their filings by month’s end, signaling a potential green light ahead of the October 10 deadline, according to a new report from CoinDesk, citing people familiar with the matter.
The SEC’s push for expedited refiling follows the approval of the REX-Osprey SOL Staking ETF (SSK), which began trading last week and was also the first US-listed Solana investment product to incorporate staking.
Blockworks reported last month that the SEC expedited the review process for spot Solana ETFs by requesting amended S-1 forms and signaling openness to staking features in the ETFs. Companies such as Grayscale, VanEck, 21Shares, Canary Capital, Bitwise, and Franklin Templeton are among those seeking approval.
Solana may be poised to join Bitcoin and Ethereum as the next crypto asset approved for a spot ETF in the US.
ETF experts at Bloomberg predict that Solana, Litecoin, and XRP-based funds have a 95% chance of approval this year.
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