The U.S. Securities and Exchange Commission (SEC) has requested asset managers to revise their applications for Solana exchange-traded funds (ETFs). Issuers must submit amended S-1 forms by the end of July.
SEC Requirements for ETF Issuers
According to the report, the SEC is requiring Solana ETF issuers to resubmit applications with necessary amendments. The regulator is expecting the amended documents within the next three weeks.
Future of Solana ETFs
Analysts believe there is a high chance of the SEC approving Solana ETFs in 2025, with Bloomberg noting a probability of over 95%. However, the final deadline for the agency to approve or reject crypto ETFs, including those related to Litecoin and XRP, is in October.
New Trends in the ETF Market
The SEC has taken an accelerated approach towards ETF approval, recently allowing the listing of the first-staking ETF on Solana. The REX-Osprey SOL ETF debuted with $33 million in volume and $12 million in inflows.
Thus, the SEC's demands for resubmission of S-1 forms for Solana ETFs highlight the regulator's intention to accelerate the approval process and the development of the cryptocurrency ETF market.
