SEC Pushes Solana ETF Closer to Approval

Date: June 11, 2025
Author: Oliver Smith

📰 Summary

The U.S. Securities and Exchange Commission (SEC) is actively engaging with issuers of spot Solana (SOL) ETF proposals, requesting amendments to their S‑1 filings—signaling a high likelihood of approval later this year. This momentum has already boosted SOL prices by over 5%cryptopolitan.comcryptopolitan.com+15nftevening.com+15coinstats.app+15.

🔑 Key Developments

1. S‑1 Amendments Requested

The SEC asked funds like Grayscale, VanEck, 21Shares, Bitwise, Canary, Franklin Templeton, Fidelity, and others to amend S‑1 entries concerning in‑kind redemptions and staking mechanisms within a weekft.com+15blockworks.co+15binance.com+15.

Comments on those amendments are expected within the next 30 days, potentially clearing the way to approval as early as July blockworks.co+6cryptoslate.com+6nftevening.com+6.

2. High Odds of Approval

Bloomberg analysts Eric Balchunas and James Seyffart increased the probability of Solana ETF approval to ~90%, citing SEC engagement as a major positive sign ft.com+15nftevening.com+15cryptotimes.io+15.

Market prediction platforms like Polymarket now reflect over 90% odds for a Solana ETF by year-endb2binpay.com+15coinstats.app+15cointelegraph.com+15.

3. Price Reaction

SOL rose approximately 3–5%, trading in the $164–$165 range, following reports of SEC’s fast-tracking movethecoinrepublic.com+10fxstreet.com+10cryptoslate.com+10.

⏱️ Timeline & Next Steps

Week of June 11: Issuers expected to submit amended S‑1s.

Within 30 days: SEC provides feedback.

July–October: Final decisions anticipated—July if the process stays swift, otherwise by the mandatory October 10, 2025 deadline fxstreet.com+8nftevening.com+8blockworks.co+8.

⚠️ Regulatory Considerations

The SEC’s allowance for staking within the ETF structure has been flagged as a notable shift, and its inclusion could significantly alter the ETF's appeal nftevening.com+1cryptoslate.com+1.

Some proposals—such as those from REX and Osprey—have encountered legal scrutiny over fund structuring and whether they qualify as legitimate investment vehicles tokentax.co+4cryptodnes.bg+4crypto.news+4.

✅ Conclusion

The SEC’s recent engagement—through S‑1 updates and positive signals on staking—strongly indicates that a spot Solana ETF could emerge any time between July and October. This development marks a major milestone in institutional crypto adoption and mirrors previous patterns seen in spot Bitcoin and Ethereum ETF rollouts.