SEC Fast-Tracks Solana (SOL) ETF with July Deadline

The SEC just set a July deadline for Solana ETF refilings, which could mean we'll see these funds approved way before the October 10 final deadline. This comes after the REX-Osprey SOL staking fund already hit the market, putting pressure on regulators to move faster.

Why the SEC Is Rushing Solana (SOL) ETF Approvals

Here's what's happening: The Securities and Exchange Commission told potential issuers they need to respond to comments and refile their amended S-1 documents before July ends. That's according to two sources who spoke to CoinDesk.

Technically, the SEC has until October 10 to make a decision, but it looks like they want to approve one or more funds much sooner than that. The rush makes sense when you consider what just happened with the REX-Osprey SOL and Staking ETF (SSK).

This fund got automatic approval under the Investment Company Act of 1940 - the SEC basically had no choice but to let it through. SSK started trading last week, making it the first Solana staking fund on the market. That gives it a huge head start over other potential Solana ETFs.

How REX-Osprey Changed the Game for SOL ETFs

The SEC really doesn't like when one fund gets a first-mover advantage. That's exactly why they approved several spot ether (ETH) and bitcoin (BTC) ETFs all at once - to keep things fair.

"I think that the SEC has some pressure to approve these quicker than waiting all the way to October, especially with that Rex Shares product that got approved last week," one source explained.

With bitcoin at $108,262.27 and ether at $2,553.73, both cryptocurrencies have already made it through the ETF approval process. Now Solana, trading at $150.54, looks like it's next in line.

What This Means for Solana (SOL) Investors

Back in June, the SEC asked issuers to update their S-1 filings to include language about in-kind redemptions and staking. That was the first real signal that regulators were taking these Solana ETF applications seriously.

If approved, spot Solana ETFs would be the third type of crypto ETF in the US market, joining bitcoin and ether funds. There are also applications pending for XRP ($2.3023), Dogecoin ($0.1683), and Litecoin funds.

The July deadline shows the SEC wants to stay in control of the approval process while responding to market pressure. For Solana investors, this could mean easier access to SOL through traditional brokerage accounts much sooner than expected.