The US SEC has requested spot Solana ETF (exchange-traded fund) issuers to replace their S-1 filings by June, Blockworks reported, quoting unnamed sources.
Notably, the SEC has requested potential issuers to make clear procedures for in-kind redemption. The regulator is reportedly open to permitting staking as a part of these merchandise.
Moreover, the sources famous that the company will present feedback on the up to date filings inside 30 days of their submission.
Solana ETF Has 90% Odds of Approval
Though it’s nonetheless unclear when spot Solana ETFs can be permitted, Bloomberg senior ETF analyst James Seyffart believes that it might “extra seemingly” be in early This fall, 2025.
“Delays on spot crypto ETFs are anticipated,” he wrote on X. “If we’re gonna see early approvals from the SEC on any of those belongings — I wouldn’t count on to see them till late June or early July at absolute earliest.”
Delays on spot crypto ETFs are anticipated. A bunch of XRP ETPs have dates in subsequent few days.
If we're gonna see early approvals from the SEC on any of those belongings — i wouldn't count on to see them till late June or early July at absolute earliest. Extra prone to be in early 4Q.— James Seyffart (@JSeyff) Could 20, 2025
Analyst Seyffart additionally predicted that the chances of altcoin ETF approvals in 2025 are 90% for Solana and Litecoin. Whereas XRP intently follows at 85%, different altcoins, together with Dogecoin and HBAR, have an 80% probability of approval this 12 months.
Corporations which have filed S-1s embody Grayscale, VanEck, 21Shares, Canary Capital, Bitwise, Franklin Templeton and Constancy.
Curiously, Seyffart believes the SEC views these altcoins as commodities, a constructive outlook for his or her approval prospects in comparison with securities.
SOL Carefully Follows Bitcoin and Ethereum ETF Plans
Grayscale is planning to observe the blueprint it used for its Bitcoin and Ethereum merchandise, aiming to transform its current SOL Belief right into a spot ETF.
In February, the SEC formally acknowledged Grayscale’s spot Solana ETF proposal. Nevertheless, in Could, the company delayed its resolution, stating that it hadn’t reached any conclusions.
Final month, the SEC pushed again its resolution on the SOL ETF proposals from Bitwise and 21Shares. The company famous it wants added time to kind via technical particulars, authorized questions, and investor-protection points.
In the meantime, Brazil’s regulator gave the inexperienced gentle for the first-ever spot Solana ETF in August 2024. Later, the nation additionally permitted a second Solana spot ETF provided by the asset supervisor Hashdex.
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