SEC Demands Solana ETF Filers to Reshape Their Game by July's End!

Hang onto your hats, crypto fans! The U.S. Securities and Exchange Commission isn't messing around. They've thrown down the gauntlet, demanding that asset managers gunning for Solana spot ETFs get their ducks in a row and file revamped Forms S-1 before July's over. No ifs, ands, or buts!

Word on the street, courtesy of our pals at CoinDesk, is that the SEC is playing hardball with those Solana (SOL) spot ETF hopefuls. They're not just asking—they're insisting these issuers hustle back with corrected applications pronto.

Time's ticking! The SEC's clock is set for a mere three weeks for those S-1 registration docs to come back, all polished and ready. Better get moving, folks!

Rumor has it the SEC wants those ETF re-filings in by the end of July. As this bombshell dropped, SOL was riding the market waves at around $151. Buckle up, it's gonna be a wild ride!

What's the Scoop?

Hear this, analysts are buzzing that the SEC might just give Solana ETFs the thumbs up come 2025. The dynamic duo from Bloomberg, Eric Balchunas and James Seyffart, pegged the chances at a whopping 95%.

But hold your horses! The SEC has until October to play judge and jury on a slew of crypto ETFs, not just Solana but also Litecoin, XRP, Dogecoin, and Cardano. Tick-tock, the clock's ticking.

For the Solana spot ETFs, put forth by the likes of Canary, Grayscale, Franklin, Invesco, Fidelity, VanEck, Bitwise, 21Shares, and CoinShares, the do-or-die date is October 10, 2025. And get this—the SEC's push for quick S-1 refilings, complete with juicy details on staking and in-kind redemptions, screams 'hurry up' louder than a bull in a china shop.

Remember the SEC's swift move with Ethereum (ETH) spot ETFs in 2024? They're not slowing down now.

Just the other day, the SEC rolled out the red carpet for the REX-Osprey SOL and Staking ETF. Debuting with the ticker SSK, this trailblazer as the first U.S. staking ETF raked in $33 million in volume and $12 million in inflows on day one. Talk about a splash!

Why the smooth sail for REX-Osprey? It's all thanks to the Investment Company Act of 1940, giving it the fast track to automatic approval.

And hey, Bitwise didn't waste any time either. They hustled and filed those amended S-1s for their spot Dogecoin and Aptos ETFs in late June. Balchunas called it a solid sign—the SEC's on the case, folks!