According to rumors, the SEC is requesting potential Solana ETF issuers to update their S-1 form within 30 days. This action may indicate the committee's willingness to approve such products.
This news slightly increased SOL's price, and the Polymarket community has become much more optimistic about the possibility of ETF approval in July. Other ETF products also received some optimism, but to a much lesser extent.
Solana ETF May Be Launched Soon
The cryptocurrency industry has been eagerly anticipating the Solana ETF, which is widely considered a strong candidate for SEC approval. Despite the committee's continued delays, optimism has remained relatively high.
Now, according to reports, the SEC appears to be moving forward, causing much excitement.
"[According to the report] The SEC has requested potential spot Solana ETF issuers to submit an updated S-1 within next week. One source suggests that this update could put SOL ETF on a path to approval within 3-5 weeks, and the SEC seems open to including staking." โ Nate Geraci, prominent ETF analyst
Geraci's colleague Eric Balchunas argued that SEC approval could trigger a leading altcoin ETF summer for Solana.
While the committee has continuously delayed all altcoin ETF applications, this update may indicate a new state of readiness.
Naturally, Solana's price has responded positively to these rumors, rising over 4.5% today:
In fact, this development is spreading optimism across the cryptocurrency sector. On Polymarket, online prediction market bettors have consistently held expectations that a Solana ETF would be approved in 2025.
However, these bets were primarily set with December as the end date. Today, the possibility of July approval recorded a massive 45% increase.
This news is very positive for Solana but has not spread much to other ETFs. For example, the XRP ETF's July approval possibility increased by 4%, and the December approval possibility actually decreased.
Of course, this change is not surprising since the community was already very optimistic about the XRP ETF.
Anyway, these ETF rumors came at a good time for Solana. Despite a price drop last month, the asset has begun recovery this week, and other market developments could help it.
While it's unknown when the SEC will approve this ETF, signs of progress are finally visible.
