Already in July, the SEC may approve spot ETFs based on a basket of cryptocurrencies, and then make a decision regarding funds based on Solana. This forecast was given by senior exchange analyst at Bloomberg, Eric Balchunas.
"Prepare for a potential altcoin-ETF summer, with Solana likely to be the leader," he wrote.
According to information from Blockworks from its own sources, the Commission has required potential issuers of spot SOL funds to provide updated S-1 forms.
According to sources, the regulator promised to comment on the applications within 30 days. One source suggested that after the SEC updates its forms, it may approve products in the next three to five weeks.
Bloomberg exchange analyst James Seyffart confirmed that such a probability cannot be ruled out, but he does not expect the agency's decision before the beginning of October.
In a note, Balchunas and Seyffart noted that the regulator may intensify the review of applications for Solana-ETFs and funds with staking functions due to Rex Financial's attempts to launch similar products in the US through alternative means.
After the registration of spot SOL-ETFs, there will be an 'avalanche' of similar products based on other altcoins, analysts believe. According to their estimates, the chances of obtaining approval by the end of the year for instruments based on a basket of Solana and Litecoin assets stand at 90%, and for XRP funds at 85%.
