Progress in SEC Talks on Spot SOL ETF Applications

According to Odaily, discussions between the U.S. Securities and Exchange Commission (SEC) and issuers of a spot Solana (SOL) Exchange-Traded Fund (ETF) have made significant progress. Fox journalist Eleanor Terrett reported on the X platform that two informed sources revealed the SEC is currently processing S-1 applications related to the ETF. These sources indicated that in the coming days, it is "very likely" that exchange representatives for potential issuers will submit several 19b-4 forms, marking the next step in the ETF approval process. Currently, companies such as VanEck, 21Shares, and Canary Capital have already submitted their S-1 applications for the Solana ETF. Additionally, Bitwise announced its intention to file an S-1 application yesterday. This development marks a crucial phase in the potential launch of a Solana ETF, as the submission of 19b-4 forms is a critical component of the regulatory approval process. The progress in these discussions highlights the growing interest and efforts to introduce a Solana-based ETF in the U.S. market, which could provide investors with a new avenue to gain exposure to the cryptocurrency.