On July 8 (UTC+8), MetaEra reported on July 7 that the U.S. Securities and Exchange Commission (SEC) has requested institutions planning to issue spot Solana ETFs to modify and resubmit their application documents by the end of July. According to sources, although the SEC can make a decision by October 10 at the latest, this move indicates that the approval process may be accelerated, potentially speeding up the final approval of the Solana ETF. Previously, the REX-Osprey SOL and Staking ETF was automatically approved and began trading last week due to the application of the 1940 Investment Company Act, becoming the first Solana staking fund. This has put pressure on the SEC to speed up the approval process. If approved, the Solana ETF would become the third type of spot cryptocurrency fund in the U.S. market, following Bitcoin and Ethereum. [MetaEra]

The US SEC requires Solana ETF applicants to resubmit documents by the end of July, potentially accelerating the approval process.