According to Odaily, four major financial institutions—VanEck, 21Shares, Canary, and Bitwise—are set to face their first U.S. Securities and Exchange Commission (SEC) review deadline for their Solana (SOL) ETF applications on January 25, 2025.
These institutions filed their 19b-4 forms with the SEC on November 21, 2024, marking the formal start of the review process. Under SEC regulations, the agency is required to issue its initial decision within 45 days, which could result in an approval, rejection, or postponement.
Market Expectations
Industry analysts anticipate that the SEC may adopt a unified review strategy, similar to its approach with previous Bitcoin and Ethereum ETF applications. Given the growing institutional interest in Solana and its rising market prominence, stakeholders are closely watching for potential signals of regulatory support.
