Start cooperation with SEC
According to multiple sources, the U.S. Securities and Exchange Commission (SEC) has begun reviewing the listing application for the Solana (SOL) spot ETF. Fox News' Eleanor Terret reported that the SEC has begun discussions with the filing companies regarding the S-1.
Shortly after the SEC approved the Ethereum spot ETF, VanEck first applied for a Solana ETF on June 27. Subsequently, 21Shares and Canary Capital submitted applications on October 30, and on Wednesday, Bitwise completed the trust registration for the Solana ETF in Delaware and plans to submit a formal S-1.
According to Telet, based on recent conversations with SEC staff and the incoming government's positive stance on cryptocurrencies, companies applying for the Solana ETF are becoming increasingly optimistic about obtaining approval in 2025. Canary Capital also noted, "Based on daily trading, active addresses, and new addresses, Solana's robust DeFi ecosystem has demonstrated sustained high on-chain analytical capabilities."
The SEC approved 11 Bitcoin spot ETF trades in January and 8 Ethereum ETF trades in July. The Solana ETF could become the third major cryptocurrency physical ETF to receive approval. In addition to Solana, XRP and Litecoin ETFs are also in application.
