SEC approves GrayScale's request for Solana ETF launch. Major companies apply for Solana spot ETFs. Predictions vary on approval timeline.
The U.S. Securities and Exchange Commission (SEC) has finally recognized GrayScale’s amended request to launch an Exchange-Traded Fund (ETF) for Solana (SOL). This comes after previous requests for Solana ETF launches were rejected due to misclassification as commodity trusts. Currently, major companies like 21Shares, Bitwise, VanEck, and Canary Capital have all applied to launch Solana spot ETFs. Nate Geraci, head of ETF Store, predicts approval by the end of next year, while James Seyffart, a Bloomberg analyst, believes the process may extend until 2026.
