Solana ETF Approval Might Just Surprise You Sooner Than Expected!

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Ah, the US Securities and Exchange Commission, the ever-patient arbiters of financial innovation, have kindly reminded would-be Solana ETF sponsors to file those fully amended registration statements by the end of the month. This thrilling demand has compressed a review timetable that was previously set to drag on until 10 October, the statutory deadline, so that’s a bonus. Who doesn’t love a little hurry-up in the world of financial bureaucracy? 😏

Sources within the dialogue (because, of course, everyone has a source) hint that the Commission’s trading-and-markets division isn’t exactly in the mood to linger. One brave soul who spoke to CoinDesk shared the opinion that the SEC might be feeling the heat to approve these things faster than the original plan. You see, that Rex Shares product got the green light last week, and, well, that’s definitely not going to sit well with anyone who was hoping to delay things until October. The pressure is real, folks, and it’s totally not because of competition… or is it? 😎

Solana: The Third Spot Crypto ETF We Never Knew We Needed!

And what, you may ask, is the origin of this mysterious pressure? Why, it’s the REX-Osprey SOL + Staking ETF (ticker SSK), of course! A product that, under the *Investment Company Act of 1940* (yes, that old chestnut), became effective *automatically* due to the absence of any objections from the SEC. It went live on 2 July, and—wait for it—it gathered a mere $12 million on its first day. No big deal, right? That’s totally normal for a first-day launch. 🙃

Now, this sneaky debut gives it a little first-mover advantage. That’s right, folks, the SEC has tried and failed to neutralize such advantages before by approving competing crypto funds at the same time (a method tested during the spot bitcoin and ether ETFs). But will it work this time? Probably not. The race has begun, and it’s all about who can get there first. 🏁

Meanwhile, in true bureaucratic fashion, the SEC is busy reworking its rulebook for digital-asset ETPs. Just last week, a 12-page guidance document was released, spelling out all sorts of lovely new disclosure expectations for custody, staking rewards, and market-manipulation safeguards. In case that’s not enough, they’re drafting a universal template meant to replace the good ol’ Form 19b-4 waivers, which have been the gold standard for crypto ETF listings. This template, of course, could slash approval windows down to a mere seventy-five days. Who needs time anyway? ⏳

Analysts on X (because that’s totally not a Twitter reference) are already churning out predictions about the delays. “MORE delays!” said one person. Of course, they were right. Fidelity’s Solana ETF filing got delayed as expected. But, hey, we’re still waiting for the SEC to move forward with a generalized digital asset ETP framework. So, what’s the holdup? Nobody knows! Maybe we should all just sit and wait until the fall. 🍂

But hold on, folks, it’s not all doom and gloom. Lawyers have assured us that nothing stops the Commission from approving a Solana fund under existing rules in August. That’s right, folks—August. No need to wait for September or October, let’s just get this over with. Solana’s market, as it turns out, is “sufficiently resistant to manipulation,” according to some mysterious regulatory standards. That’s the kind of robust market resistance we all love to hear about. 😏

Six issuers are in the game, each with their own spot Solana proposals on file, including VanEck, Fidelity, and the ever-popular Ark/21Co. If the SEC approves ahead of the 10 October deadline, Solana will be the third crypto asset to receive a US spot ETF approval. And, just think of the ripple effect! XRP, Litecoin, Dogecoin—you’re next in line. Who needs time anyway when the future of crypto is rushing at us like a freight train? 🚂

Market-makers are already bracing for impact. If the SEC gives its blessing in late August, expect these products to launch faster than you can say “blockchain.” After all, after the lightning-fast launch of Bitcoin’s spot ETF, we all know that speed to market is everything. How soon will the SEC press that approval button? Weeks? Months? Only time will tell, but one thing’s for sure: the race is on. 🏃‍♂️💨

As of now, SOL is trading at $148.93, just in case you wanted to know. And who doesn’t? 📉

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2025-07-08 17:18