The U.S. Securities and Exchange Commission (SEC) has reached out to potential issuers of Solana-based exchange-traded funds, requesting them to submit updated S-1 forms. The regulator requires the revised documents to be submitted within the next seven days.
This is reported by Finway
SEC Focuses on Asset Redemption and Staking
The updated forms must include detailed explanations regarding the mechanism for redeeming assets in kind, as well as information about the approach to staking tokens within the ETF structure. The regulator emphasized the need for a clear description of these aspects for further consideration of the applications. The SEC promised to provide its comments on the submitted documents within 30 days.
Sources predict that these steps could significantly accelerate the approval process for the Solana ETF. Estimates suggest that a decision regarding potential approval of the product could be made within three to five weeks.
Experts Predict Solana’s Leadership Among Altcoin ETFs
Bloomberg Intelligence analyst James Seyffart expressed expectations that the SEC may approve the Solana ETF by the end of this year, and the likelihood of a positive decision as early as July is quite high. His colleague, Eric Balchunas, believes that the summer of 2025 will be a period of active launches of spot ETFs for altcoins, with Solana likely leading this trend.
“Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via @JSeyff note this morning which includes fresh odds for all the spot ETFs.”
Balchunas also referenced updated analytical assessments from James Seyffart regarding the likelihood of approval for applications for spot crypto funds.
It was previously reported that investment firm Ark Invest has invested over $10 million in the spot Solana ETF from 3iQ, indicating a growing interest from institutional investors in such financial products.