The U.S. Securities and Exchange Commission (SEC) has requested Solana ETF issuers to amend and resubmit their filings. This could potentially expedite the approval process ahead of the deadline.
Overview of SEC's Request
The SEC has reached out to issuers such as VanEck, Grayscale, 21Shares, Franklin Templeton, and Bitwise to request them to amend and resubmit their S-1 filings by the end of July. This may mean an accelerated timeline ahead of the October 10th deadline.
Growing Institutional Interest
As October approaches, asset managers are expected to act quickly to meet the SEC’s requirements. If approved, Solana ETFs would provide direct exposure to SOL without self-custody, legitimizing the token. Bloomberg analysts estimate a 90-95% approval chance for Solana ETFs this year.
Why Solana is a Natural ETF Candidate
Solana's on-chain performance, developer activity, and cost efficiency have made it a standout among Layer-1 blockchains. The availability of a U.S. spot ETF would allow traditional capital access to Solana, increasing liquidity.
ETF issuers now have to update and resubmit their applications to the SEC by July 31st. While the SEC has not committed to approval, their proactive engagement signals notable changes for Solana and the broader cryptocurrency market.
