SEC Demands Urgent Resubmission of Solana Spot ETF Filings – Is Approval Imminent?

The SEC just lit a fire under Solana ETF hopefuls—issuing a rare 'refile ASAP' mandate. No typos, no excuses.

Wall Street's crypto-curious are watching: Will SOL become the first altcoin to crack the ETF code? Or will regulators move the goalposts—again?

One thing's certain: The SEC's sudden urgency smells like political theater. After all, what's a crypto cycle without some regulatory whiplash?

What does this mean?

Analysts have long noted that odds of the SEC giving the greenlight for Solana ETFs in 2025 is higher- Bloomberg’s Eric Balchunas and James Seyffart recently highlighted this prospect at over 95%.

However, the final deadline for the agency to reject or approve crypto ETFs, including those linked to Litecoin, XRP, Dogecoin, and Cardano, is in October. 

For Solana spot ETFs, filed by Canary, Grayscale, Franklin, Invesco, Fidelity, VanEck, Bitwise, 21Shares, and CoinShares, the key deadline is October 10, 2025.  The report that the regulator wants issuers to quickly refile the S-1s with key details such as staking and in-kind redemptions, suggests the market watchdog is eyeing an acceleration of the process.

The SEC took an accelerated approach as it moved to issue spot ethereum (ETH) ETFs in 2024.

Recently, the regulator allowed for the listing and trading of the REX-Osprey SOL and Staking ETF. The fund, traded under the ticker SSK and the first-ever staking ETF in the U.S., saw about $33 million in volume and $12 million in inflows on its debut.  

REX-Osprey SOL ETF’s application was structured under the Investment Company Act of 1940, which meant it benefited from automatic approval.  

Bitwise filed the amended S-1s for its spot Dogecoin and Aptos ETFs in late June, a move that Balchunas said was a good sign, indicative of engagement from the SEC.