SEC Pushes for Solana Spot ETF Revisions — Approval Could Come by End of July

TradingKey – The U.S. Securities and Exchange Commission (SEC) is accelerating its review of Solana (SOL) spot ETF applications, urging issuers to submit revised S-1 filings by the end of July, according to a July 7 report from CoinDesk. The move signals a potential fast-track approval process ahead of the official October deadline.

Several major asset managers have filed for Solana spot ETFs, including:

• CoinShares
• VanEck
• 21Shares
• Canary Capital
• Bitwise
• Grayscale
• Franklin Templeton
• Fidelity

The SEC’s urgency follows its brief approval — and immediate reversal — of Grayscale’s Digital Large Cap Fund (GDLC) conversion into an ETF on July 2. GDLC is a multi-asset crypto fund that includes BTC, ETH, and SOL, but the SEC halted the process the next day, citing procedural concerns.

As of now, Solana is trading at $149.37, having fluctuated between $100 and $180 since February. Analysts believe that formal approval of a SOL spot ETF could trigger a breakout above this range, especially as institutional demand builds.

SOL price chart, source: TradingView.