Solana ETF Nears Finish Line as SEC Demands Final Paperwork by June Deadline

Wall Street''s crypto flirtation takes another twist—regulators just slammed the accelerator on Solana ETF applications.

The SEC''s Sudden Urgency

Issuers got marching orders to file S-1 forms within days, suggesting Chair Gensler might actually approve something that isn''t Bitcoin. For once.

Why Mid-June Matters

The tight deadline hints at a late-summer launch window—perfect timing to capitalize on the post-election regulatory haze. How convenient.

Solana joins the ETF party while TradFi dinosaurs still can''t decide if blockchain is ''a scam'' or ''the future.'' Place your bets.

Solana ETF Has 90% Odds of Approval

Although it is still unclear when spot Solana ETFs will be approved, Bloomberg senior ETF analyst James Seyffart believes that it would “more likely” be in early Q4, 2025.

“Delays on spot crypto ETFs are expected,” he wrote on X. “If we’re gonna see early approvals from the SEC on any of these assets — I wouldn’t expect to see them until late June or early July at absolute earliest.”

Delays on spot crypto ETFs are expected. A bunch of XRP ETPs have dates in next few days.

If we''re gonna see early approvals from the SEC on any of these assets — i wouldn''t expect to see them until late June or early July at absolute earliest. More likely to be in early 4Q.

Analyst Seyffart also predicted that the odds of altcoin ETF approvals in 2025 are 90% for Solana and Litecoin. While XRP closely follows at 85%, other altcoins, including Dogecoin and HBAR, have an 80% chance of approval this year.

Companies that have filed S-1s include Grayscale, VanEck, 21Shares, Canary Capital, Bitwise, Franklin Templeton and Fidelity.

Interestingly, Seyffart believes the SEC views these altcoins as commodities, a positive outlook for their approval prospects compared to securities.

SOL Closely Follows Bitcoin and Ethereum ETF Plans

Grayscale is planning to follow the blueprint it used for its Bitcoin and ethereum products, aiming to convert its existing SOL Trust into a spot ETF.

In February, the SEC formally acknowledged Grayscale’s spot Solana ETF proposal. However, in May, the agency delayed its decision, stating that it hadn’t reached any conclusions.

Last month, the SEC pushed back its decision on the SOL ETF proposals from Bitwise and 21Shares. The agency noted it needs added time to sort through technical details, legal questions, and investor-protection issues.

Meanwhile, Brazil’s regulator gave the green light for the first-ever spot Solana ETF in August 2024. Later, the country also approved a second Solana spot ETF offered by the asset manager Hashdex.