In its most recent report, Blockworks noted that, according to three sources with knowledge, the United States Securities and Exchange Commission has asked prospective Solana ETF issuers to submit an amended S-1 form within the next week.
Two sources told the media outlet that the commission has informed issuers that it will comment on S-1s within their submissions.
One of the sources also suggested that approval could arrive within 3-5 weeks. It is said that the change focuses on two major areas, including how issuers plan to handle in-kind redemptions and whether staking will be incorporated into the ETF structure.
It is noteworthy that the prices of Solana grew around 4.40% in the past 24 hours and are now trading at $165.04, and in the same frame, it traded highest at $167.24 and lowest at $156.84.
Eric Balchunas a senior analyst at Bloomberg said in his X post dated June 11, 2025 that, “ Get ready for a potential Alt Coin ETF Summer with Solana likely leading the way (as well as some basket products) via James Seyffart note this morning which includes fresh odds for all the spot ETFs.”
Do odds favor Solana ETF approval in the coming months?
According to the X post from James Seyffart of Bloomberg, Solana ETF has a 90% chance of approval, with Litecoin having similar odds, Dogecoin ETF has an 80% chance of approval, and XRP ETF has an 85% chance.
The poll on Polymarket prediction market with a question, Solana ETF approved by July 31, 2025, has a volume of $294k with around 56% favoring its approval, and another poll with the question Solana ETF approved in 2025 has a volume of $159,012 with 91% chances of approval.
GrayScale, Fidelity, VanEck, Bitwise, 21Shares, Franklin Templeton, and Canara Capital, among others, have captured the list of applicants for Solana ETF approval.
A quick brief of Solana prices
According to CoinMarketCap data, Solana’s price has increased 7.21% in the past seven days, but it has fallen 3.94% and 12.11% YTD in the past month.
When writing, Solana was exchanging hands above its 20, 50, 100, and 200-day exponential moving averages, its market cap is up by 5.40% intraday, reaching $87.38 billion, and trading volume is $5.4 billion with an addition of 40.09%.
Solana’s all-time high is $294.33, recorded on January 19, 2025, and its lowest traded at $0.5052, recorded on May 12, 2020. In the monthly frame, SOL traded highest at $187.28 and lowest at $141.90, and in 52 weeks, the highest traded price was $294.33 and the lowest was $96.59.
