SEC Asks For Expedited Refiling Of Solana Spot ETF Applications
The U.S. Securities and Exchange Commission (SEC) issued a request for asset managers who have been applying for spot Solana (SOL) exchange-traded funds (ETFs) to refile by July. The request has bred expectations of a potential shift in the approval process for Solana-based ETFs.
SEC’s Request For Amended S-1 Forms
SEC asked Solana spot ETF issuers to resubmit amended Forms S-1, CoinDesk reported. The issuers need to have the staking and in-kind redemption amendments incorporated into their applications. The request also reminds asset managers of the need to resubmit their requests within three weeks.
Implications for Solana ETF Approval
Analysts have noted that there are strong possibilities of the SEC approving Solana ETFs in 2025, with some estimates indicating a probability of over 95%. This is a further acceleration of the SEC’s approval of crypto ETFs. The agency’s final ruling on crypto ETFs, including ones tracking Solana, Litecoin, XRP, Dogecoin, and Cardano, however, is still pending by October 2025.
Key Deadlines for Solana Spot ETFs
Several firms, including Canary, Grayscale, Franklin, Invesco, Fidelity, VanEck, Bitwise, 21Shares, and CoinShares, have filed Solana spot ETF applications. Among these filings, the most significant deadline is October 10, 2025. The SEC’s request to resubmit S-1 documents in July suggests that review could be accelerated.
Recent SEC Moves and ETF Developments
The SEC simply settled into an expedited route for Ethereum ETFs, showing widespread desire to move fast on crypto ETF approvals. The regulator also approved REX-Osprey SOL and Staking ETF, which saw substantial trading volume in its inaugural day.
