SEC May Expedite Approval of Spot Solana ETF, Possibly Greenlighting Before October

On July 8 (UTC+8), sources revealed that the U.S. SEC has requested issuers planning to launch spot Solana ETFs to respond to comments and submit revised S-1 filings by the end of July, potentially accelerating the approval process. Although the first final approval deadline is October 10, the SEC is facing pressure to simultaneously promote similar products after the REX-Osprey $SOL and Staking ETF (SSK) was automatically approved under the Investment Company Act of 1940 and began trading last week. Spot Solana ETFs are expected to be approved before October, becoming the third type of spot crypto fund in the U.S. after Bitcoin and Ethereum. (Source: CoinDesk) [MetaEra]