Amend, refile, and get ready — that’s the message the U.S. Securities and Exchange Commission just sent to Solana (SOL-USD) ETF hopefuls as it accelerates the approval timeline.
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According to sources familiar with the process, the SEC has quietly asked firms vying to launch spot Solana ETFs to refile updated S-1 documents by the end of July. That’s months ahead of the October 10 final decision deadline, signaling that the Commission may be preparing to fast-track approvals — or at least avoid the chaos of a last-minute logjam.
Why the Urgency Now?
Pressure is mounting inside the agency after the REX-Osprey SOL and Staking ETF (SSK) slipped through last week under a different legal framework; the Investment Company Act of 1940. Because of its structure, that fund received automatic approval unless blocked by the SEC — and the Commission didn’t step in. Now it’s live and trading, making it the first Solana staking fund to hit U.S. markets.
That surprise debut has changed the calculus.
The SEC has historically been careful to avoid giving one issuer a first-mover advantage — especially in the crypto ETF space. When Bitcoin and Ethereum ETFs were greenlit, the Commission synchronized approvals across multiple filers to level the playing field. But now that SSK has a head start, other Solana ETF applicants are demanding equal footing — and the SEC appears to be listening.
What’s at Stake?
Spot Solana ETFs would join the likes of Bitcoin and Ether as the only crypto assets with approved spot-based ETFs in the U.S. market. That alone would be a seismic shift. For investors, it means easier exposure to SOL through traditional brokerage accounts, a potential unlock for billions in inflows.
But this isn’t just about Solana. The SEC’s moves here will set precedent for the next wave of filings, including XRP, Dogecoin, and Litecoin. The message regulators send now will ripple far beyond one blockchain.
What’s Changed in the Filings?
In June, the SEC issued detailed guidance to applicants asking for clearer language on in-kind creations, redemptions, and staking mechanics; all key parts of how these ETFs would function. That marked the first official acknowledgment that the Commission is actively engaging with the framework for Solana-based products.
Now, with that language incorporated, issuers are racing to resubmit before the informal July deadline. That tight turnaround suggests the SEC is teeing up decisions far earlier than the October 10 cutoff — possibly to roll out approvals simultaneously and regain control of the optics around fairness and transparency.
If the Solana ETFs are approved in August or September, as some expect, that could trigger a second wave of crypto enthusiasm in the traditional markets. It would also give Solana a narrative tailwind heading into the final quarter of 2025, potentially just as capital begins rotating out of Bitcoin and Ethereum after their respective ETF rallies.
At the time of writing, Solana is sitting at $151.67.
