The U.S. Securities and Exchange Commission (SEC) has requested potential issuers of Solana-based exchange-traded funds (ETFs) to submit updated S-1 forms as soon as possible. The regulator is known to expect these documents within a week and plans to provide its comments on them within 30 days.
This is reported by Business • Media
SEC Focuses on Redemption and Staking Details
The SEC specifically emphasized the need for a detailed description of the asset redemption mechanism in physical form and a clear explanation of the approach to incorporating staking into the ETF structure. Issuers must take these requirements into account when preparing the updated forms.
According to sources, prompt updating of the documents could significantly expedite the approval process for the Solana-ETF. A decision regarding the product’s approval is expected to be made within three to five weeks.
Analysts Predict Quick Approval for Solana-ETF
Bloomberg Intelligence analyst James Seyffart is confident that the Solana ETF could receive approval by the end of the year, likely as early as July. Meanwhile, Bloomberg Intelligence expert Eric Balchunas believes that the summer of 2025 will be a period of active launches of spot ETFs for altcoins, with Solana potentially leading this process.
“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 noted the updated probability estimates for the approval of the respective applications shared by Seyffart.
It was previously reported that Ark Invest has invested over $10 million in the spot Solana-ETF from 3iQ.