According to Fox reporter Eleanor Terrett's post on platform X, two insiders revealed that the U.S. Securities and Exchange Commission has made progress in negotiations with the spot SOL ETF issuer. The U.S. Securities and Exchange Commission is currently processing the S-1 application, and insiders say it is "very likely" that in the coming days we will see exchange representatives submit some 19b4 documents on behalf of potential issuers—this is the next step in the ETF approval process. Currently, VanEck, 21Shares, and expectedly Canary Capital have submitted S-1 applications for the Solana ETF, and Bitwise announced its intention to submit an S-1 application yesterday.