Hold On To Your Hats: SEC Might Approve Solana ETF in Weeks!

Buckle up, crypto fans! The U.S. Securities and Exchange Commission could be gearing up to greenlight a spot Solana exchange-traded fund in just a few short months, insiders whisper to Blockworks.

Rumors are swirling that the SEC's already nudging Solana (SOL) ETF hopefuls to hustle up and tweak their S-1 registration statements by next week. One daring source spilled that we could see the green light flashing in as little as three to five weeks. Can you feel the excitement building?

Word on the street from two tight-lipped sources at Blockworks says the SEC will be eyeing those revamped filings and dropping their two cents within 30 days. The big buzz? It's all about how these issuers plan to juggle in-kind redemptions and whether they'll toss staking into the ETF mix.

And get this - the SEC's apparently cool with the idea of staking being part of the party. Who saw that coming?

James Seyffart over at Bloomberg Intelligence is betting on an approval rolling in as early as July, but the clock's ticking, with final SEC decisions stretching out until October. Seyffart's hinting that the agency might just be fast-tracking those 19b-4 filings tied to Solana and staking ETFs sooner than we all thought.

The race is on, with asset managers like VanEck, Bitwise, Fidelity, Grayscale, Franklin Templeton, Canary Capital, and 21Shares all chomping at the bit to launch their own Solana ETF. It's like a blockbuster movie, and we've got front-row seats!

Solana's Playing Catch-Up with Bitcoin and Ethereum ETF Plans

Grayscale's not messing around - they're eyeing a conversion of their existing SOL Trust into a spot ETF, following the same winning strategy they used for their Bitcoin (BTC) and Ethereum (ETH) stunners. And guess what? The SEC gave Grayscale's Solana ETF proposal a nod back in February, a huge shift from their usual "no way" stance.

Sure, the SEC hit the pause button on Grayscale's Solana ETF in May, but they made it clear they're still playing it close to the vest. That delay? Just a procedural hiccup, not a flat-out rejection.

Market watchers are all over this like flies on honey, especially after CME threw SOL futures into the mix back in February, following the same playbook they used before giving the thumbs up to Bitcoin and Ethereum ETFs.

CME's SOL futures launch? It's already sparked the creation of SOL futures ETFs, with Volatility Shares jumping in with two new offerings.

After the monumental approval of spot Bitcoin ETFs in January 2024 and Ethereum ETFs in May 2025, all eyes are now on Solana and other top digital assets. And let's not forget - the very existence of futures markets often sets the stage for spot ETF approvals, just like we saw with BTC and ETH. The crypto world's on the edge of its seat, waiting to see what happens next!