The U.S. Securities and Exchange Commission (SEC) has set a deadline of July 2025 for the submission of updated S-1 forms from issuers planning to launch spot exchange-traded funds (ETFs) based on the cryptocurrency Solana (SOL). This move aims to expedite the review of applications and ensure transparency in the process.
This is reported by Finway
SEC Aims to Avoid Delays in Review
According to industry sources, the first deadline for a decision is set for October 10, 2025. At the same time, the commission may approve the first funds before this date. Regulatory representatives emphasize that they seek to ensure a “smooth process” despite pressure from market participants who are expecting timely decisions on new financial products.
“I believe the SEC is under some pressure to approve these funds faster, rather than waiting until October, especially after the Rex Shares product was approved last week,” noted one of the sources.
Reasons for Accelerating the Process
One of the main reasons for expediting the review of applications is the recent approval of the Solana-ETF by REX Shares and Osprey Funds. This step has prompted the SEC to engage in more active dialogue with issuers and update the requirements for document submissions.
It is worth noting that in June 2025, the regulator officially reached out to potential issuers requesting them to submit updated S-1 forms to participate in the approval process for Solana-based exchange-traded funds. Further decisions by the SEC are expected to impact the dynamics of the U.S. cryptocurrency market and attract new investments in the digital assets sector.