Closer Moves to Approving Solana Spot ETFs as Regulatory Framework Takes Shape
The U.S. Securities and Exchange Commission (SEC) is reportedly preparing to implement a new set of listing standards for digital asset spot exchange-traded funds (ETFs), which is considered as potential progress toward the long-anticipated approval of Solana-based investment products.
According to reports published Monday, the SEC has asked prospective issuers of Solana spot ETFs to revise and resubmit their applications by the end of July. The request aligns with broader regulatory efforts to develop a standardized framework for evaluating digital asset ETFs, as more than 50 such applications remain under review.
The Commission is expected to introduce a general listing model that would streamline the approval process by creating a unified rulebook. This shift follows the release of updated guidelines that clarify requirements for valuation mechanisms, custodial arrangements, and benchmark index selection.
In a recent report, analysts at CF Benchmarks stated: “We expect the SEC to roll out a comprehensive listing process for spot ETFs by the end of September, in collaboration with national exchanges.” If implemented, the changes could reduce the approval timeline from the current 240 days to approximately 75 days, a significant acceleration for the crypto ETF market.
The proposed framework is also expected to define strict eligibility standards for underlying digital assets, including requirements for sufficient liquidity and inclusion on recognized exchanges. The developments echo earlier reports suggesting that the SEC is exploring mechanisms that would allow issuers to bypass the lengthy 19b-4 regulatory process traditionally required for listing new ETFs.
Sources cited by CoinDesk confirmed that the SEC has specifically asked Solana ETF issuers to amend their filings to reflect new expectations regarding in-kind redemptions and custody strategies. These updates build on previous guidance issued last month concerning revisions to S-1 forms, a further sign of constructive dialogue between regulators and industry participants.
Still, some market observers urge caution. Bloomberg ETF analyst James Seyffart noted on X that the latest activity should not be mistaken for imminent approvals. “Keep in mind: this is still part of an ongoing consultation and amendment process, not a signal of green lights just yet. But any regulatory back-and-forth is a positive development in its own right,” he said.
Investor optimism has been further fueled by the recent approval of two related products, Rex Shares and Osprey’s SOL+Staking ETF (SSK), which debuted last Wednesday as the first spot ETFs offering staking rewards.
These funds provide direct exposure to Solana’s market price, while also allowing investors to earn blockchain-based rewards, highlighting the evolving nature of crypto investment vehicles in the U.S. market.
If successful, the forthcoming regulatory model could pave the way not only for Solana ETFs, but for a broader wave of digital asset investment products, bringing long-awaited clarity and momentum to the sector.
