TLDR:
- SEC pushes Solana ETF refilings, hinting at faster-than-expected approvals.
- Solana sees record 14.63M active addresses in one day, per Santiment data.
- REX-Osprey SOL ETF debuts under the Investment Company Act of 1940.
- SOL price remains stable despite surging usage, suggesting bullish divergence.
The U.S. Securities and Exchange Commission has urged spot Solana (SOL) ETF issuers to refile applications by July’s end. This follows the recent debut of the REX-Osprey SOL + Staking ETF ($SSK), now trading under the Investment Company Act of 1940.
Analysts interpret this as a sign that the SEC may approve Solana-based ETFs sooner than expected. The October 10 timeline for approval could be moved up, reflecting a potential policy shift toward faster turnaround.
Simultaneously, Solana’s network has seen a historic spike in activity, signaling possible changes in market sentiment.
SEC Signals Speed in Solana ETF Timeline
Multiple ETF applicants have reportedly received instructions from the SEC to amend and resubmit their filings ahead of schedule. This move, widely seen across crypto circles, has raised expectations of an expedited approval process.
SEC is pushing issuers to amend and refile applications for spot $SOL ETFs by the end of July, signaling faster-than-expected approvals.
This follows the recent launch of the REX-Osprey SOL + Staking ETF ($SSK), which began trading last week under the Investment Company Act of… https://t.co/bpzPl5CXHx pic.twitter.com/D3DUrBerAt— Solana Daily (@solana_daily) July 7, 2025
The recent REX-Osprey launch further hints that the Commission is open to alternative structures for Solana-based funds.
While the SEC has not publicly confirmed these timelines, the directive suggests urgency in processing SOL ETF filings. Market watchers now expect one or more Solana ETFs could be greenlit well before the originally projected October deadline.
Solana’s on-chain activity has soared to new records, driven by a spike in user engagement. Analyst Ali Charts shared Santiment data showing over 14.63 million active addresses in a 24-hour window. This sharp increase began around July 5 and reached a peak by July 7.
Prior network activity had ranged between 2 million and 10 million daily addresses. The sudden jump signals a wave of interaction likely tied to dApp usage or staking platforms.
Activity on the Solana $SOL network has surged, with over 14.63 million active addresses in the last 24 hours, shows data from @santimentfeed. pic.twitter.com/WpZvAhdaYv
— Ali (@ali_charts) July 8, 2025
Such an uptick, paired with stable pricing, may point to a brewing shift in market behavior.
Solana On-Chain Growth Meets SOL Price Consolidation
Despite the surge in activity, Solana’s price has remained steady at around $149.60 per CoinGecko data.
Over the past week, the token has moved between $145.83 and $155.81, with daily ranges narrowing. This reflects a consolidation phase even as engagement levels accelerate.
The mismatch between price and user activity could suggest a bullish divergence. Traders often view such patterns as early signs of strong market demand. If this pace continues, it may support further growth and trigger renewed investor interest.
The convergence of regulatory developments and record-high usage could mark a pivotal moment for Solana. With ETF approvals appearing closer and on-chain metrics breaking new ground, the ecosystem shows signs of deeper traction.
Whether through retail use, institutional entry, or ETF-driven exposure, SOL appears positioned for more market relevance in the coming months.
The post SEC Urges Solana ETF Refiles as Network Activity Soars; Approval May Arrive Early appeared first on Blockonomi.
Source: https://blockonomi.com/sec-urges-solana-etf-refiles-as-network-activity-soars-approval-may-arrive-early/