Trusted

Solana ETF Approval Rumors Spark SOL Price Rally

2 mins
Updated by Mohammad Shahid
Join our Trading Community on Telegram

In Brief

  • SEC may soon approve a Solana ETF, with issuers reportedly asked to update S-1 forms within 30 days, signaling potential approval.
  • Solana's price surged by over 4.5% as optimism about ETF approval increased, especially within the Polymarket community.
  • While Solana's ETF prospects have gained traction, other altcoin ETFs, such as XRP, saw only minor increases in approval odds.
  • promo

Rumors suggest that the SEC is asking potential Solana ETF issuers to update their S-1 forms within the next 30 days. This act could signal the Commission’s inclination to approve these products.

This news caused a minor price rally for SOL, and the Polymarket community became significantly more optimistic about an ETF approval in July. Other ETF products also received more optimism, but to a much smaller degree.

A Solana ETF Could Be Coming Soon

The crypto industry has been clamoring for a Solana ETF, which is widely considered a strong candidate for SEC approval. Despite the Commission’s persistent delays over the last few months, optimism has remained relatively high.

Now that reports are claiming that the SEC is looking to move forward, it’s causing a lot of excitement.

“[Reports claim that] the SEC has asked prospective spot Solana ETF issuers to submit amended S-1s within the next week. One source estimated that these updates could put SOL ETFs on track for approval within 3-5 weeks, and that the SEC also appears open to including staking,” claimed Nate Geraci, a prominent ETF analyst.

Geraci’s colleague, Eric Balchunas, claimed that SEC approval could “trigger an altcoin ETF summer,” with Solana leading the way.

Although the Commission has been consistently delaying all altcoin ETF filings over the last few weeks, this update could signal new readiness.

Naturally, Solana’s price reacted well to these rumors, growing over 4.5% today:

Solana Price Performance
Solana Price Performance. Source: CoinGecko

Indeed, this development seems to be spreading optimism all around the crypto sector. On Polymarket, the online prediction market, gamblers have been consistently bullish about a Solana ETF getting approved in 2025.

However, these bets mainly specify December as the end date. Today, the odds of a July approval shot up a monumental 45%, a huge turn.

Solana ETF Approval Odds
Solana ETF Approval Odds. Source: Polymarket

Although this news is very bullish for Solana, optimism didn’t spread as far to other ETFs. For example, XRP ETF odds for July approval increased by a measly 4%, and December approval odds actually fell.

Of course, the community was already overwhelmingly optimistic about an XRP ETF, so these changes aren’t too surprising.

In any event, these ETF rumors came at a great time for Solana. Despite its price crashing in the last month, the asset has begun staging a recovery this week, and other market developments may help it along.

It’s impossible to say when the SEC will finally approve this ETF, but there are finally signs of forward motion.

Top crypto platforms in the US
Figure Markets Figure Markets Explore
Coinbase Coinbase Explore
COCA wallet COCA wallet Explore
Arkham Arkham Explore
Moonacy Moonacy Explore
Top crypto platforms in the US
Figure Markets Figure Markets Explore
Coinbase Coinbase Explore
COCA wallet COCA wallet Explore
Arkham Arkham Explore
Moonacy Moonacy Explore

Disclaimer

In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and ConditionsPrivacy Policy, and Disclaimers have been updated.

image-10-1.png
Landon Manning
Landon Manning is a Journalist at BeInCrypto, covering a wide range of topics, including international regulation, blockchain technology, market analysis, and Bitcoin. Previously, Landon spent six years as a writer with Bitcoin Magazine and co-authored a Bitcoin maximalist newsletter with 30,000 subscribers. Landon holds a Bachelor of Arts in Philosophy from Sewanee: The University of the South.
READ FULL BIO
Sponsored
Sponsored