SEC Accelerates Solana ETF Approval—Decision Could Land by Mid-July
Regulators just hit the gas on Solana ETFs. The SEC''s fast-track review could greenlight the funds in as little as five weeks—putting institutional investors one step closer to betting big on SOL without touching the asset directly.
Why the rush? Maybe the agency finally noticed the $100B+ elephant in the room after years of pretending crypto markets don''t exist. Or perhaps they''re tired of watching hedge funds circumvent their rules with offshore derivatives. Either way, Wall Street''s about to get a new toy—just in time for summer bonus season.
Solana joins Bitcoin and Ethereum in the ETF queue, but with a twist: its speedier blockchain might actually justify the ''disruptive tech'' hype that fund managers love to pitch. That is, until the next shiny object distracts them.
Approval within the next month
Bloomberg ETF analysts James Seyffart and Eric Balchunas predicted in April that the approval of altcoin-related fundswhen most of the final deadlines for a SEC decision expire.
Seyffartthat the SEC usually takes full time to respond to 19b-4 filings. However, if an early approval occurs, it might not happen until the first days of July.
Balchunas shared aon June 10, reinforcing that “ETFs that track broad crypto indexes may be approved by the SEC within the next month.”
Balchunas added that theto list ethereum and Solana ETFs with staking offerings was the reason the regulator is considering fast-tracking the approvals.
The filings used the rare “C-Corp” format, which has a shorter response deadline with the regulator.
Competitive slate lines up
Fidelity, Franklin Templeton, VanEck, Bitwise, Canary Capital, 21Shares, and Grayscale all have applications for a Solana ETF.
Grayscale seeks to convert its existing Solana Trust into an ETF, mirroring the path it used to list spot Bitcoin and Ethereum funds. The firm’s was , while Franklin Templeton’s proposal. Meanwhile, filings submitted by Fidelity and VanEck were postponed on May 19.
On June 6, VanEck, Canary, and 21sharesasking for the reinstatement of the first-to-file approval order.
The ETF issuers claimed concurrent approvals strip early filers of the advantage that traditionally offsets higher legal and compliance costs. In the letter, they mentioned Solana ETFs.
