The prospect of Solana Exchange-Traded Funds (ETFs) entering the U.S. market has gained significant momentum, with the Securities and Exchange Commission (SEC) actively engaging with prospective issuers.
According to three sources familiar with the matter who spoke to Blockworks, the SEC has requested Solana ETF issuers to submit amended S-1 forms within the next week.
The regulatory body has indicated that it intends to provide comments on these amended S-1 filings within 30 days of their submission. A key focus of the SEC’s requests involves updating the language surrounding “in-kind redemptions” and detailing how issuers plan to approach “staking” within their ETF structures. Sources indicate that the agency appears open to including staking as a component of Solana ETFs, a development that could enhance their appeal.
One source close to the developments estimated that these latest updates could put SOL ETFs on a fast track, potentially leading to approval within just three to five weeks. Further reinforcing this timeline, Bloomberg Intelligence’s James Seyffart, a respected voice in the ETF space, informed Blockworks that he is eyeing approval for Solana ETFs this year, with a possibility as early as July.
Seyffart also noted that the SEC may now be prioritizing the handling of 19b-4 filings for Solana and staking ETFs sooner than originally planned. This accelerated timeline suggests that issuers and industry participants have likely been collaborating with the SEC and its crypto task force to finalize rules. While the official deadlines for the agency’s decisions on such applications are not until October, the current engagement points to a more immediate focus on these products.
Kosta Gushterov
Reporter at Coindoo
Kosta has been a part of the team since 2021 and has solidified his position with a thirst for knowledge, incredible dedication to his work and a “detective-like” mindset. He not only covers a wide range of trending topics, he also creates reviews, PR articles and educational content. His work has also been referenced by other news outlets.
Source: https://coindoo.com/solana-etfs-might-be-inch-closer-to-start-heres-when-they-could-be-approved/