The U.S. Securities and Exchange Commission (SEC) is hastening the review process for Solana ETF applications, requiring filers to make changes by the end of July.
Physical Mechanisms Now Required
The SEC requires applicants to revise S-1 forms to include explicit guidelines for physical subscription, redemption, and pledge mechanisms. This means investors must now be able to directly subscribe to or redeem ETF shares using actual SOL tokens instead of cash methods.
Approval Deadline Nears Amid Political Pressure
While the first official decision deadline is set for October 10, sources indicate the SEC may act sooner. There is increasing political pressure from lawmakers and industry players to accelerate the approval of crypto investment products ahead of the U.S. elections.
What This Means for Investors
These changes add momentum to Solana’s case, positioning it as the next major crypto asset likely to receive ETF approval in the U.S. The successful rollout of Bitcoin ETFs earlier this year could also facilitate a quicker approval process.
The acceleration of the Solana ETF approval process alongside new SEC requirements underscores the growing interest in crypto investment products. Investors are advised to stay informed on developments.
