The U.S. Securities and Exchange Commission (SEC) is actively working to accelerate the approval process for Solana and other altcoin ETFs, which may impact the market landscape.
Trends in Solana ETF Approval
The SEC has requested issuers to amend and refile their applications for Solana-based ETFs by the end of July. This deadline aligns with a new, more structured approval procedure. The final decision on the fund is due by October 10.
Equal Grounds for ETF Applicants
Some Solana ETF issuers are demanding equal footing after SSK began trading as the first Solana staking fund. The SEC is concerned about avoiding first-mover advantages, hence is expediting the review process.
Forecasts for Ripple and Other Altcoin ETFs
Among the anticipated ETFs is the XRP ETF. ETF market expert Nate Geraci believes BlackRock might reconsider its stance on applications for other ETFs following the conclusion of the SEC case against Ripple. Currently, seven applications from various issuers are under review.
The acceleration of the ETF approval process for Solana and other altcoins could transform the traditional financial market landscape and reflect on future crypto developments.
