The U.S. Securities and Exchange Commission (SEC) has formally requested issuers of proposed Solana exchange-traded funds (ETFs) to revise registration statements amid ongoing approval deliberations.
According to regulatory protocols, applicants received instructions to update specific details within their S-1 filings. Feedback from the SEC typically necessitates modifications before advancing to final approval stages.
Industry analysts estimate a potential approval window of three to five weeks assuming issuers promptly address regulatory requirements. This development signals tangible progress for Solana ETF applicants navigating the SEC’s evaluation framework.
Successful amendments would position Solana as the third cryptocurrency behind Bitcoin and Ethereum to gain U.S. spot ETF approval, marking a significant expansion of mainstream crypto investment vehicles.