Bloomberg: Increasing likelihood of Solana ETF approval

Bloomberg reported that the possibility of a spot Solana (SOL) exchange-traded fund (ETF) product being approved in the U.S. looks increasingly likely. At least three asset management companies have been asked by the Securities and Exchange Commission (SEC) to amend their S-1 filings. The SEC has asked them to clarify how the funds will be redeemed and whether Solana staking rewards will be paid. Bloomberg interprets this as a positive sign for the launch of the product. Noelle Acheson, author of the Crypto is Macro Now newsletter, asserted that the fact that the SEC has requested an amendment to the S-1 documents means that the ETF could be approved within a few days or at most a few weeks. Currently, at least seven asset management companies, including Grayscale, Bitwise and VanEck, are preparing to launch Solana ETFs. CoinNess previously reported that the SEC could approve the product within three to five weeks.