🔸The SEC notified REX Shares and Osprey Funds that it has "no further comments" on their submitted Solana staking ETF applications. In ETF regulatory terminology, industry observers typically interpret this statement as the SEC's implicit approval. This is similar to the "tacit approval" seen when companies like BlackRock and Fidelity proposed spot Bitcoin ETFs.

🔸Currently, multiple companies are vying for the opportunity to launch a Solana spot ETF, with Invesco and Galaxy joining the competition at the end of June. Analyst Balchunas indicated that these funds may receive approval within two to four months. There are currently at least 60 other altcoin ETF proposals awaiting SEC review and potential approval.

🔸Will there be significant opportunities in the SOL ecosystem? $BONK