SEC Pushes Solana ETF Filing for Early Approval in July 2025

SEC Accelerates Review of Solana ETF

According to Blockworks, the SEC has asked Solana ETF issuers, including VanEck, 21Shares, Bitwise, Grayscale, Canary Capital, and Franklin Templeton, to resubmit revised S-1 forms within a week. The forms should clarify in-kind redemptions and describe how funds can participate in staking Solana. The SEC expects to respond within 30 days, significantly shortening the review time compared to previous ETF processes. If the filings are filed on time, approval could come in three to five weeks, as early as July 2025, according to a source familiar with the matter.

The move comes after the SEC delayed its decision on multiple Solana ETF applications until May 2025, citing the need for more time to review legal and policy issues. However, the latest move suggests the SEC is changing its approach, possibly due to pressure from a more crypto-friendly regulatory environment under the Trump administration.

Solana and the Crypto ETF Trend

Solana, a Layer-1 blockchain with Proof of History algorithm, stands out for its high transaction speed (up to 65,000 transactions/second) and low fees, directly competing with Ethereum. With a market capitalization of around $80 billion and a SOL price of $170 by June 2025, Solana is one of the top altcoins, attracting attention from institutional investors. DeFi and NFT applications on Solana, along with over 1,200 projects in the ecosystem, have solidified its position.

The crypto ETF trend started to explode after the SEC approved a Bitcoin spot ETF in January 2024 and an Ethereum ETF in July 2024. These funds attracted over $63 billion in Bitcoin and $3.7 billion in Ethereum in 2024, with BlackRock’s ETHA fund recording $492 million in inflows over nine consecutive days in June 2025. Solana is next, with ETF filings from VanEck (June 2024), 21Shares, Bitwise, Grayscale, Canary Capital, and Franklin Templeton. Canada went ahead with four Solana spot ETFs with staking in April 2025, putting pressure on the SEC to catch up.

The event also reflects a more positive regulatory environment. With crypto-friendly leaders like Treasury Secretary Scott Bessent and new SEC Chairman Paul Atkins, analysts like Bloomberg’s James Seyffart predict a 70% chance of a Solana ETF being approved by 2025.

Evaluation and Conclusion

The SEC’s push for a Solana ETF filing with a one-week request for an amended S-1 and a 30-day response commitment is a strong signal that approval could be imminent, possibly as early as July 2025. This move not only solidifies Solana’s position in DeFi, but also opens the door for institutional and retail investors to access one of the leading blockchains. However, regulatory and staking challenges still need to be addressed to ensure a smooth approval process.

With positive market sentiment and support from crypto-friendly policies, the Solana ETF could be the next big thing for the digital finance industry. Will SOL become the new “star” in the ETF market? Stay tuned for the latest developments!

Once again we give our opinion on potential projects in the crypto market. This is not investment advice, consider your portfolio. Disclaimer: The views expressed in this article are solely those of the author and do not represent the platform in any way. This article is not intended to be a guide to making investment decisions.

Compiled and analyzed by HCCVenture

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