According to three people familiar with the matter, the Securities Exchange Commission (SEC) has asked potential Solana ETF issuers to file revised S-1 forms within the next week.
"The agency informed the issuer that it will comment on the S-1 within 30 days of its filing," two of the sources added. "The SEC asked the issuer to update its language on physical redemptions and how the issuer handles the pledge, adding that the agency appears willing to include the pledge as part of the Solana ETF."
Another source estimated that the updates could put the Solana ETF on track for approval in three to five weeks. James Seyffart of Bloomberg Industry Research said he expected approval this year, possibly as early as July.
"We believe the SEC may now focus on Solana's 19b-4 filing and staking ETF sooner than planned," Mr. Seyffart wrote in a report this week. "Issuers and industry participants may have been working with the SEC and its cryptocurrency working group on rules, but the agency's deadline for a decision on such filings is not until October."
According to sources familiar with the matter, the SEC requires Solana ETF issuers to submit revised S-1 forms within the next week
2025-06-10 19:51:58
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