Rumors suggest that the SEC is asking potential Solana ETF issuers to update their S-1 forms within the next 30 days. This act could signal the Commission’s inclination to approve these products.
This news caused a minor price rally for SOL, and the Polymarket community became significantly more optimistic about an ETF approval in July. Other ETF products also received more optimism, but to a much smaller degree.
A Solana ETF Could Be Coming Soon
The crypto industry has been clamoring for a Solana ETF, which is widely considered a strong candidate for SEC approval. Despite the Commission’s persistent delays over the last few months, optimism has remained relatively high.
Now that reports are claiming that the SEC is looking to move forward, it’s causing a lot of excitement.
“[Reports claim that] the SEC has asked prospective spot Solana ETF issuers to submit amended S-1s within the next week. One source estimated that these updates could put SOL ETFs on track for approval within 3-5 weeks, and that the SEC also appears open to including staking,” claimed Nate Geraci, a prominent ETF analyst.
Geraci’s colleague, Eric Balchunas, claimed that SEC approval could “trigger an altcoin ETF summer,” with Solana leading the way.
Although the Commission has been consistently delaying all altcoin ETF filings over the last few weeks, this update could signal new readiness.
Naturally, Solana’s price reacted well to these rumors, growing over 4.5% today:
Indeed, this development seems to be spreading optimism all around the crypto sector. On Polymarket, the online prediction market, gamblers have been consistently bullish about a Solana ETF getting approved in 2025.
However, these bets mainly specify December as the end date. Today, the odds of a July approval shot up a monumental 45%, a huge turn.
Although this news is very bullish for Solana, optimism didn’t spread as far to other ETFs. For example, XRP ETF odds for July approval increased by a measly 4%, and December approval odds actually fell.
Of course, the community was already overwhelmingly optimistic about an XRP ETF, so these changes aren’t too surprising.
In any event, these ETF rumors came at a great time for Solana. Despite its price crashing in the last month, the asset has begun staging a recovery this week, and other market developments may help it along.
It’s impossible to say when the SEC will finally approve this ETF, but there are finally signs of forward motion.
The post Solana ETF Approval Rumors Spark SOL Price Rally appeared first on BeInCrypto.
