SEC Fast-Tracks Solana ETFs
SEC Expedites Solana ETF Approvals
The Securities and Exchange Commission (SEC) is urging Solana Exchange-Traded Fund (ETF) applicants to resubmit their applications by the end of July. This move strongly suggests a faster-than-expected approval process, potentially before the October 10th deadline.
Key Implications
- Faster Approval Timeline: The SEC's actions indicate a streamlined approval process, potentially leading to Solana ETFs launching before October.
- Market Expansion: If approved, Solana spot ETFs would join Bitcoin and Ether ETFs as the only approved spot crypto funds in the US market, significantly expanding investor access to Solana.
- Staking Integration: The SEC's openness to staking features in Solana ETFs, as evidenced by the recent approval of the REX-Osprey SOL Staking ETF (SSK), is a key factor driving this expedited review.
Several prominent firms, including Grayscale, VanEck, 21Shares, Canary Capital, Bitwise, and Franklin Templeton, are vying for SEC approval for their Solana ETFs. Bloomberg ETF experts predict a 95% chance of approval for Solana, Litecoin, and XRP-based funds this year.
This development follows the successful launch of the REX-Osprey SOL Staking ETF (SSK), the first US-listed Solana investment product to incorporate staking. The SEC's willingness to consider staking features is a significant step forward for the broader crypto ETF landscape.
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