#Solana现货ETF竞赛 The Solana Spot ETF competition refers to the competition among various institutions to launch a Solana Spot ETF. Here are the relevant details:
Participating Institutions
Multiple institutions have already submitted applications for the Solana Spot ETF, including VanEck, 21Shares, Grayscale, Bitwise, Canary Capital, Franklin Templeton, Fidelity, and Coinshares.
Competition Progress
- On June 11, 2025, the U.S. Securities and Exchange Commission (SEC) issued a notice to institutions planning to issue Solana Spot ETFs, requiring them to resubmit a revised S-1 filing within 7 days, focusing on revisions to the wording of the "physical redemption mechanism" and "staking terms." - The SEC also promised to complete its review feedback within 30 days after the submission of the S-1 document, indicating that the window for the Solana Spot ETF has opened, with the earliest possible approval in mid-July.
Market Impact
- The regulatory actions are seen as a positive signal, igniting bullish sentiment, and the price of Solana subsequently surged, briefly breaking through $165, with a single-day increase of up to 5%. - If the Solana Spot ETF is approved, according to the GSR model estimates, it could bring significant price increases for Solana. Under different capital inflow scenarios, the price of Solana is expected to challenge the $400 - $500 range, and even exceed $800.
Challenges
The SEC previously listed SOL as an "unregistered security" in lawsuits against Coinbase and Binance. Although some of these lawsuits have been paused or dismissed, the securities label has not yet been officially clarified or adjudicated, which still poses a potential obstacle.
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