Solana ETF Set for Approval Soon, Issuers Prepare for Swift Launch

TLDR

• Solana ETFs are expected to receive approval between October 6 and October 10.
• The SEC’s new generic listing standards have simplified the approval process for crypto ETFs.
• Issuers have filed amended S-1 forms to address technical details such as staking provisions.
• The potential U.S. government shutdown may delay the approval of Solana ETFs.
• The approval of Solana ETFs could lead to a wave of altcoin ETFs receiving approval from the SEC.

Solana ETFs could see approval as early as next week, with expectations centered on a window between October 6 and 10. Sources from three separate issuers believe this timeline is realistic. The SEC’s recent adoption of new generic listing standards for crypto exchange-traded products has set the stage for a swift approval process.

Solana ETF Registration Expected by Early October

The SEC’s new generic listing standards have simplified the approval process for Solana ETFs. These standards eliminate the need for individual filings, which previously delayed approvals. Issuers no longer have to submit specific 19b-4 filings for token-based funds. This change removes barriers that once made regulatory approval for each crypto asset a lengthy process.

Issuers have submitted amended S-1 forms to address technical details, including provisions related to staking. The regulatory changes have also led to high optimism within the industry. One source mentioned, “We have high conviction that Solana ETF registration statements will go into effect by early October.”

US Government Shutdown Threatens the Timeline

Despite the optimistic outlook, a potential U.S. government shutdown could delay the approval process for Solana ETFs. Sources have expressed concern that the SEC’s activities could be paused during a government shutdown. If the shutdown happens, approvals for Solana and other crypto products would likely be put on hold.

The government shutdown could impact over 100 pending crypto-related filings with the SEC. Issuers are anxious about the potential disruption, which could delay their ETF launches. However, sources remain hopeful that the approval timeline will remain intact if the shutdown does not occur.

The approval of Solana ETFs could open the floodgates for other altcoin ETFs. Industry experts believe that once Solana ETFs are approved, other crypto-related funds will soon follow. The SEC’s stance on staking features in ETFs has already cleared some hurdles, making the launch of these products highly anticipated.

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