SEC engages with issuers on Solana spot ETF applications

The U.S. Securities and Exchange Commission (SEC) is reportedly engaging with issuers on S-1 applications for Solana (SOL) spot ETFs, according to sources familiar with the matter. Discussions are described as "progressing," with a "good chance" of 19b-4 filings by exchanges, a key step in the ETF approval process, expected soon. VanEck, 21Shares and Canary Funds have already filed S-1 applications, while Bitwise announced its intent to do so. 19b-4 filings, submitted by exchanges like CBOE, request SEC approval to list ETFs, triggering a 240-day decision window once acknowledged. Fox Business reporter Eleanor Terrett posted on X that though previous attempts were withdrawn amid regulatory hurdles, renewed engagement from SEC staff and optimism tied to the incoming pro-crypto administration have sparked hopes for potential approval in 2025.