The recent launch of the first Solana ETF, called SSK, creates conditions for expedited approval of other ETF applications in the U.S. The SEC may act ahead of the established timeline.
Pace of Solana ETF Review
The U.S. Securities and Exchange Commission (SEC) is accelerating the review process for spot Solana (SOL) ETF applications. Reports indicate that the SEC has requested fund issuers to submit updated S-1 filings by the end of July, including details on staking and in-kind transactions.
Importance of SSK Launch
The launch of the SSK ETF marks an important milestone, providing access to Solana staking for U.S. investors. SSK was the first fund to start trading, attracting $12 million on its first day and achieving a total volume of $33 million. This creates pressure on the SEC to approve other similar funds.
Increase in Solana Network Activity
Data shows a sharp rise in active addresses on the Solana network, with 14.63 million active addresses recorded on July 7, significantly exceeding previous weeks' numbers. This increase occurs alongside a steady market price for Solana and rising interest in investment products related to the network.
The successful launch of SSK and the growth in Solana's network activity could influence the SEC's decisions regarding the approval of other funds. This event serves as an important indicator for Solana's future in the financial market.
