In a large step for Solana, the American Securities and Exchange Commission has formally accepted the revised application of Grassscale for a spot Solana Exchange-Traded Fund.
On 6 February, US second officially accepted A modified application of Grassscale for a spot Solana (Sol) ETF. This is important because the previous efforts to file SOL ETF were rejected under the leadership of SEC Chair Gary Gensler. In Post on XFinance lawyer Scott Johnson reminded that the regulator’s refusal was based on the Solana products, which were incorrectly classified as the Commodity Trust shares.
Bloomberg Analyst James Safart Echo This in January, stating that the division of SEC enforcement makes it difficult for other SEC divisions to consider it under the ETF structure to classify Solana as a security.
The timeline is uncertain for a potential solana ETF, offering different opinions with experts. Nov. Back in, ETF Store Chairman Nate Gresi Told the block This approval may come by the end of next year, given that the recent engagement of SEC with the issuers is a promising development. However, safurt suggested Can stretch in 2026, indicating that SEC usually takes 240 to 260 days to review such a filing.
Test the SEC’s stance increase in crypto ETF filing as issuer tests
This development comes as a wave of crypto ETF filing that landed on the desk of SEC in recent weeks. On January 21, the CBOE BZX exchange with 19B-4 forms, on January 28, are 21shares, Bitwaiz, Vanoc and leaders, including leaders, all Solana to list ETFs.
Beyond Solana, SEC has accepted several other Crypto ETF-related applications. One of them is Grassscale filing for Litcoin (LTC) ETF, as well as Blacrock’s proposal is proposed to allow in-compositions and redemption of Blackrock’s proposal to its Ishares Bitcoin ETF. Additionally, forms filed for CBOE BZX Canary capital, Wisdomist, 21sharesAnd Bitwaiz To list a spot ripple (XRP) ETF. Last but at least, Bitwaiz has proposed a spot dogcoin (DOGE) ETF, which includes the growing list of crypto investment products seeking regulator approval.
