Solana ETF approvals rumored to arrive next week as issuers prepare for launch

Solana spot ETF approvals could travel arsenic soon arsenic adjacent week, with a timeline of Oct. 6-10 representing a realistic anticipation for the SEC’s approval.

As Blockworks reported connected Sept. 30, sources astatine 3 abstracted issuers said that the optimism follows the SEC’s adoption of generic listing standards for crypto exchange-traded products, which eliminated the request for idiosyncratic 19b-4 filings for token-specific funds.

The standards let crypto ETFs to summation SEC support without idiosyncratic rule-changing forms, streamlining a process that antecedently required extended regulatory reappraisal for each asset.

Issuers person submitted a question of amended S-1 forms addressing method details, including provisions related to staking.

One root expressed “high conviction” that Solana ETF registration statements would spell into effect successful the archetypal fractional of October.

However, the looming menace of a US authorities shutdown could derail the timeline, with 2 sources noting that approvals are “very improbable to hap during a shutdown.”

A imaginable midnight shutdown would intermission each SEC activity, 1 idiosyncratic said.

Generic standards wide path

On Sept. 29, writer Eleanor Terrett reported the regulator asked issuers to retreat earlier filings for Solana, XRP, Litecoin, Cardano, and Dogecoin funds, arsenic the caller rules automatically screen these assets.

Bloomberg elder ETF expert Eric Balchunas said on Sept. 29 that support likelihood for altcoin ETFs are “really 100% now,” adding that caller products could motorboat immoderate day.

Bloomberg ETF expert James Seyffart noted on Sept. 26 that issuers had updated Solana ETF prospectuses successful preparation.

According to the report, the astir caller circular of S-1 amendments addressed staking, though sources did not corroborate whether approved funds would see staking features.

In August, the SEC cleared what was seen as the “last hurdle” for staking features successful ETFs by stating that liquid staking tokens are not securities by default.

Additionally, the SEC’s engagement with issuers suggests the bureau has moved past archetypal concerns astir Solana’s regulatory status.

As implicit 100 crypto-related filings await support with the regulator, the altcoin ETF floodgates whitethorn unfastened with the support of Solana products.

The station Solana ETF approvals rumored to get adjacent week arsenic issuers hole for launch appeared archetypal connected CryptoSlate.