PANews July 7 news, according to CoinDesk, the U.S. Securities and Exchange Commission (SEC) has requested that institutions proposing to issue a spot Solana ETF modify and resubmit their application documents by the end of July. Sources revealed that, although the SEC can make a decision by October 10 at the latest, this move indicates that the approval process may be expedited, potentially accelerating the final approval process for the Solana ETF. Previously, the REX-Osprey SOL and Staking ETF were automatically approved and began trading last week due to the applicability of the Investment Company Act of 1940, becoming the first Solana staking fund, thus putting pressure on the SEC to expedite approvals. If approved, the Solana ETF will become the third type of spot cryptocurrency fund in the U.S. market, following Bitcoin and Ethereum.
