Solana ETF Approval on the Horizon?
the U.S. Securities and Exchange Commission (SEC) might soon approve a spot Solana ETF. According to Blockworks, the SEC has asked potential issuers to submit updated registration statements by next week. This suggests an approval could come within three to five weeks.
Two sources say the SEC will review these updates within 30 days. The focus is on how issuers will handle in-kind redemptions and if staking will be part of the ETF. Interestingly, the SEC seems open to including staking.
Bloomberg Intelligence’s James Seyffart believes approval could happen as early as July. The final decision deadline is October, based on the 240-day review period. The SEC may now prioritize Solana and staking ETF filings.
Several asset managers, including VanEck, Bitwise, Fidelity, Grayscale, Franklin Templeton, Canary Capital, and 21Shares.
grayscale aims to convert its existing SOL Trust into a spot ETF, similar to its Bitcoin and Ethereum ETFs. The SEC acknowledged grayscale’s Solana ETF proposal in February, a significant step given past resistance.
While the SEC delayed its decision in May, it was seen as procedural. This delay was viewed positively, especially after CME launched SOL futures in February. This mirrors steps taken before Bitcoin and Ethereum ETF approvals.
CME’s SOL futures have led to SOL futures ETFs, like those from Volatility Shares. With spot Bitcoin and Ethereum ETFs already approved, attention now shifts to other top digital assets like Solana.
