- The SEC’s actions reignited Solana ETF speculations.
- Issuers have submitted updated filings for Solana ETFs, including staking.
- Users expect the SEC to approve Solana ETFs soon.
The US Securities and Exchange Commission (SEC) recently took steps that triggered speculations that it would approve multiple spot Solana ETFs soon.
Bloomberg’s ETF James Seyffart highlighted this development, citing the SEC’s recent, direct engagement with the firms that have filed to launch the products.
This proactive move by the regulator is being interpreted as a strong bullish signal and confirmation that Solana could be the next cryptocurrency to get its own spot ETF in the United States.
SEC Requests Updated Filings from All Seven Applicants
According to Seyffart, the story broke earlier this week on the SEC asking issuers to submit updated documents for their proposed Solana ETFs. The request specifically asked the firms to include details on staking.
Related: Canary Capital Amends Solana ETF Filing to Include Marinade SOL Staking; SEC Delays Decision
In a strong sign of industry readiness, all seven spot Solana ETF applicants responded quickly and updated their applications. The list of high-profile asset managers in the race includes Fidelity, 21Shares, Franklin Templeton, Grayscale, Bitwise, Canary, and VanEck.
Analyst: This Signals the “Final Phase” Before Approval
Seyffart considers the development further confirmation of his prediction that Solana would be the next cryptocurrency to have the SEC approve its ETF. Meanwhile, he had set a one-month target for the approval in his presentation, arguing that the SEC may respond to Rex-Osprey’s attempt at exploring regulatory and legal workarounds to launch Solana and Ether staking products.
In the meantime, Seyffart thinks the latest development could trigger several interactions between the SEC and ETF issuers in the approvals run-in. He cited a similar scenario with the Bitcoin ETFs when the parties engaged in several filings in the months leading to the approval. Nonetheless, he believes the crypto industry is witnessing the last phase in the Solana ETF approval process and expects it to happen soon.
Market Eyes $400 Price Target as Approval Hopes Grow
Many crypto users look forward to the ETF approval and expect the process to affect SOL’s price. The Bitcoin ETF triggered a massive capital inflow into the Bitcoin ecosystem, boosting its demand with a significant surge in price.
Related: SOL Price Prediction: Will Cboe’s Solana ETF Filings Spark a Rally?
A similar development for Solana will satisfy most users’ expectations and fulfill the widespread bullish prediction for the cryptocurrency. SOL traded for $145.82 while writing this report, and analysts predict the altcoin could surge to $400 before the end of 2025.
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