The US SEC Requests Spot Solana ETF Applicants to Update S-1 Documents, Analysts Expect Approval Within Four Months

According to ChainCatcher, citing sources from Blockworks, the US SEC has requested the issuer of the proposed spot Solana ETF to update its S-1 prospectus, suggesting that approval may be imminent. Although the exact approval time is unknown, Bloomberg's senior ETF analyst Eric Balchunas expects it could be approved within two to four months.

In an interview with The Block, he stated that spot Solana, XRP, and other funds are likely to be approved in the future, with an approval deadline possibly in October, and a spot ETF combination including Solana, XRP, Ethereum, and Bitcoin may appear in July. Issuers are rushing to launch spot ETFs to gain a first-mover advantage. Balchunas also mentioned that a large number of spot products will emerge in the next four months, but on a smaller scale, with Solana and XRP reaching a scale of $1 billion being considered good.