According to Blockworks, citing multiple informed sources, the U.S. SEC has requested that institutions proposing to issue a Solana spot ETF submit an updated S-1 filing within a week and will provide feedback within 30 days. The updates include statements regarding physical redemption and staking mechanisms, with the SEC being open to incorporating staking into the ETF structure. One informed source stated that this could lead to the approval of the Solana ETF within 3 to 5 weeks, potentially as early as July.