The U.S. Securities and Exchange Commission (SEC) is accelerating its timeline for reviewing spot Solana exchange-traded fund (ETF) proposals, requesting that applicants submit revised filings by the end of July 2025.
This development signals a potential green light for Solana ETFs ahead of the expected October 10 deadline.
The agency’s move follows the unexpected automatic approval of the REX-Osprey SOL and Staking ETF (ticker: SSK), which began trading last week.
The fund was filed under the Investment Company Act of 1940, a legal framework that allows certain funds to go live automatically unless the SEC intervenes. Since the agency didn’t issue a rejection, the ETF was approved by default, giving it a critical head start over competitors.
To maintain fairness and prevent one fund from gaining an outsized market lead, the SEC is now expediting its review process for other pending spot Solana ETF proposals.
This includes encouraging issuers to update their S-1 filings with more detailed information about how the ETFs will handle staking and in-kind creation or redemption mechanisms.
The SEC’s request in June for clearer disclosures in these areas was viewed as the first concrete signal that the agency was seriously considering spot Solana ETFs. If ultimately approved, these funds would join the ranks of spot Bitcoin and Ethereum ETFs already trading in U.S. markets.
Meanwhile, ETFs for other cryptocurrencies—including XRP, Dogecoin, and Litecoin—remain under regulatory review, with no firm timeline for approval.
