The SEC requires the spot Solana ETF applicants to update their S-1 filings, and analysts expect approval within four months
According to ChainCatcher, citing informed sources from Block works, the SEC has requested the issuers of the proposed spot Solana ETF to update their S-1 prospectus, indicating that relevant approvals may be forthcoming. While the specific approval timeline is unclear, Bloomberg's senior ETF analyst Eric Balchunas expects that approval could come within two to four months.In an interview with The Block, he stated that spot funds for Solana, XRP, and others are likely to be approved in the future, with an approval deadline potentially in October, and a combination of spot ETFs including Solana, XRP, Ethereum, and Bitcoin could emerge in July. Issuers are rushing to launch spot ETFs to gain a first-mover advantage. Balchunas also mentioned that a large number of spot products will emerge in the next four months, but they will be relatively small, with Solana and XRP reaching a scale of $1 billion being considered a success.