Since the Bitcoin and Ethereum products hit the exchanges in 2024, the crypto market has been looking to welcome additional spot exchange-traded funds (ETFs). Currently, the XRP and Solana ETFs appear to be next in line to hit the market, pending the approval of the United States Securities and Exchange Commission (SEC).
On Thursday, September 25, Bitcoinist reported that the final spot XRP and Solana amendments are expected before the end of this week. As expected, many potential issuers have updated their applications to launch the Solana exchange-traded fund in the United States.
Is SEC Approval For SOL ETF Inevitable?
On Friday, September 26, Bloomberg analyst James Seyffart shared on the social media platform X a bunch of updated applications for the spot Solana ETF prospectuses. According to the expert, this wave of amendments shows signs of movement between the issuers and the US Securities and Exchange Commission.
These latest updates to the applications mean that the launch of a spot Solana ETF is closer than ever. As indicated by Bloomberg expert Eric Balchunas in response to Seyffart’s post on X, investors can begin the final countdown to the approval of these crypto-linked investment products.
As earlier reported by Bitcoinist, ETF Store president Nate Geraci had already predicted that the final batch of amendments to the Solana ETF applications would come in before the close of this week. Geraci arrived at this conclusion after the SEC’s new generic listing standards resulted in the approval of the Hashdex Nasdaq Crypto Index US ETF.
These “generic listing standards” opened a door for firms to be able to issue spot exchange-traded products besides Bitcoin and Ether. According to the SEC, exchanges will now be able to list qualifying crypto-linked ETFs without first submitting a proposed rule change (19b-4).
Spot Solana ETF To Include Staking: Expert
In a Friday post on X, Geraci also acknowledged the flurry of S-1 amendments for the spot Solana ETF applications. Some of the potential issuers with new updates to their filings include: Franklin Templeton, Fidelity, CoinShares, Bitwise, Grayscale, VanEck, and Canary, according to the ETF Store.
Source: @NateGeraci on X
Geraci also added that the new Solana ETF applications now include staking, which “bodes well” for the spot ETH exchange-traded fund staking. Ultimately, the ETF expert expects the Securities and Exchange Commission to greenlight these SOL-linked products within the next two weeks.
The price of SOL returns above $200 on the daily timeframe | Source: SOLUSDT chart on TradingView