SEC Expedites Approval Process for Solana ETFs, Paving the Way for Potential Pre-October Decision

The SEC is speeding up the process for a potential Solana (SOL) exchange-traded fund (ETF), with a decision expected before October 10. This acceleration comes after the recent approval of the REX-Osprey SOL and Staking ETF (SSK), which became the first Solana staking fund on the market, giving it a competitive edge.

The SEC is under pressure to approve Solana ETFs quickly following the approval of the SSK fund last week. Issuers were asked to amend their S-1 filings in June to include language for in-kind redemption, creations, and staking, marking the first official communication from the SEC on these products.

Spot Solana ETFs would be the third type of spot crypto funds in the U.S. market, following the approval of spot ether and bitcoin funds. Other pending applications include funds tracking the price of XRP, Dogecoin, and Litecoin, among others.

Read more at Yahoo Finance: SEC Sets July Deadline for Solana ETF Refilings, Clearing Path for Pre-October Approval