SEC's Initial Review Deadline for Solana ETF Applications Set for January 2025

According to BlockBeats, the U.S. Securities and Exchange Commission (SEC) is set to conduct its initial review of Solana ETF applications from four major institutions, including VanEck, 21Shares, Canary, and Bitwise, by January 25, 2025. These institutions submitted their 19b-4 applications, which were officially accepted by the SEC on November 21, 2024. Following the acceptance, the SEC is required to make a preliminary decision within 45 days, which could result in approval, denial, or a request for an extension. In addition to these applications, Grayscale had previously submitted a proposal to convert its Solana Trust into an ETF, with its initial review deadline set for January 23, 2025. The market anticipates that the SEC might opt for a coordinated approach in reviewing these Solana ETF applications. This synchronized review process could potentially streamline the decision-making and regulatory oversight for these financial products, reflecting the growing interest and investment in cryptocurrency-based ETFs. The outcome of these reviews is highly anticipated by market participants, as it could significantly impact the future of Solana ETFs and the broader cryptocurrency market.