The Graph (grt) 
Solana ETF Application Gets SEC Acknowledgement
The U.S. Securities and Exchange Commission (SEC) has formally acknowledged Grayscale’s revised application for a spot Solana exchange-traded fund (ETF). This development is significant, as previous attempts to file SOL ETFs were rejected under SEC Chair Gary Gensler’s leadership.
Why the SEC’s Acknowledgement Matters
Finance lawyer Scott Johnsson noted that the regulator’s previous refusals were based on Solana products being incorrectly categorized as commodity trust shares. The SEC’s acknowledgement of Grayscale’s revised application suggests that the regulator is reevaluating its stance on Solana.
A new day. Recall Gary would not acknowledge these previously on the basis they were incorrectly filed as commodity trust shares.
Bloomberg analyst James Seyffart echoed this sentiment, stating that the SEC’s Division of Enforcement classifying Solana as a security makes it difficult for other SEC divisions to consider it under a commodities ETF framework.
Solana ETF Timeline Uncertain
The timeline for a potential Solana ETF remains uncertain, with experts offering differing opinions. Some predict approval could come by the end of next year, while others suggest it could stretch into 2026. The SEC typically takes 240 to 260 days to review such filings.
Crypto ETF Filings Surge
This development comes as a wave of crypto ETF filings has landed on the SEC’s desk in recent weeks. Major issuers, including 21Shares, Bitwise, VanEck, and Canary Capital, are all vying to list spot Solana ETFs.
Other Crypto ETF-Related Applications
Beyond Solana, the SEC has acknowledged several other crypto ETF-related applications, including:
- Grayscale’s filing for a Litecoin (LTC) ETF
- BlackRock’s proposal to allow in-kind creations and redemptions for its iShares Bitcoin ETF
- Cboe BZX’s filing for a spot Ripple (XRP) ETF
- Bitwise’s proposal for a spot Dogecoin (DOGE) ETF
Stay up-to-date with the latest news on cryptocurrency and finance by following Global Crypto News. With a growing list of crypto investment products seeking regulatory approval, it’s essential to stay informed about the latest developments in the world of cryptocurrency.
