Solana ETF issuers gear up for SEC approval as soon as next week

Issuers of Solana ETFs are anticipating SEC approval possibly next week, as reports indicate a 'high conviction' for their approval in early October. This anticipation follows the SEC's recent endorsement of generic listing standards for crypto exchange-traded products (ETPs) and numerous amended Solana fund submissions. However, concerns arise over a potential U.S. government shutdown that could delay this timeline. In the last S-1 amendments, staking was included, although it remains uncertain whether approved Solana ETFs will feature staking. Solana, with a market cap of $113 billion, could become the third cryptocurrency to receive a spot ETF after Bitcoin and Ethereum. Previous filings for Solana spot funds occurred in 2024, with active discussions by the SEC starting in June. Despite the challenges, industry conversations pivot from 'if' these approvals will happen to 'when' they will occur. This shifting dialogue reflects growing optimism in the crypto market as new ETF approvals loom.

Source 🔗