Solana ETF approvals rumored to arrive next week as issuers prepare for launch
Solana spot ETF approvals might come as quickly as next week, with a timeline of Oct. 6-10 representing a practical expectation for the SEC’s approval.
As Blockworks reported on Sept. 30, sources at three separate issuers stated that the optimism follows the SEC’s adoption of generic listing standards for crypto exchange-traded merchandise, which eradicated the necessity for particular person 19b-4 filings for token-specific funds.
The requirements permit crypto ETFs to acquire SEC approval with out particular person rule-changing kinds, streamlining a course of that beforehand required in depth regulatory evaluation for every asset.
Issuers have submitted a wave of amended S-1 kinds addressing technical particulars, together with provisions associated to staking.
One supply expressed “high conviction” that Solana ETF registration statements would go into impact within the first half of October.
However, the looming menace of a US authorities shutdown might derail the timeline, with two sources noting that approvals are “most unlikely to occur throughout a shutdown.”
A possible midnight shutdown would pause all SEC exercise, one individual stated.
Generic requirements clear path
On Sept. 29, journalist Eleanor Terrett reported the regulator requested issuers to withdraw earlier filings for Solana, XRP, Litecoin, Cardano, and Dogecoin funds, as the brand new guidelines routinely cowl these property.
Bloomberg senior ETF analyst Eric Balchunas stated on Sept. 29 that approval odds for altcoin ETFs are “actually 100% now,” including that new merchandise might launch any day.
Bloomberg ETF analyst James Seyffart famous on Sept. 26 that issuers had up to date Solana ETF prospectuses in preparation.
According to the report, the newest spherical of S-1 amendments addressed staking, although sources didn’t verify whether or not permitted funds would come with staking options.
In August, the SEC cleared what was seen as the “last hurdle” for staking options in ETFs by stating that liquid staking tokens are usually not securities by default.
Additionally, the SEC’s engagement with issuers suggests the company has moved previous preliminary issues about Solana’s regulatory standing.
As over 100 crypto-related filings await approval with the regulator, the altcoin ETF floodgates could open with the approval of Solana merchandise.
The submit Solana ETF approvals rumored to arrive next week as issuers prepare for launch appeared first on CryptoSlate.