The Securities and Exchange Commission (SEC) appears to be getting nearer to approving Solana (SOL) spot Exchange-Traded Funds (ETFs). This is an exciting development and huge progress for the overall crypto market. Meanwhile, the SEC has requested Solana spot ETF issuers to make amendments to their S-1 filings. This rulemaking demonstrates their desire to get to work with these new investment vehicles. This very positive development has caused even more speculation and optimism within the crypto community, pushing Solana’s price up more than 4.5% at the time of this writing. The issue that seems to have caught the SEC’s attention most is redemption mechanisms and the possibility of staking integration. The ultimate deadline for making a decision is October 10, 2025. Many industry observers are hopeful that if issuers move very quickly, a final decision might come as early as the end of July.

SEC's Request for Updated Filings

The SEC’s call for confidential S-1 filings is a key signpost of progress. It’s an encouraging sign that the regulatory body is currently combing through the proposals for Solana spot ETFs with a fine-toothed comb. That level of engagement from the Hill is a very encouraging sign for supporters of these investment vehicles.

"The SEC asking for updated S-1s is a very positive signal." - Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence.

The SEC is reportedly focusing on key aspects such as the mechanisms for redeeming ETF shares and the potential integration of staking, a process where SOL holders can earn rewards for participating in the network's validation process.

"It means they're engaging with the filings rather than outright rejecting or delaying them indefinitely." - Eric Balchunas, Senior ETF Analyst at Bloomberg Intelligence.

And indeed, it’s news that has Solana’s price responding favorably to .SOL rallied over 4.5% in the day’s trading amid speculation that an ETF approval miracle could be on the way, and investor sentiment is certainly bullish. This rapid price appreciation milestone allowed Solana to surge past its 50-day moving average, which is an important technical indicator and bullish signal.

Solana's Market Performance and Technical Analysis

At the moment, Solana is retesting a descending channel, a technical pattern that tends to indicate additional bullish momentum if breached. If this strength persists, an upside target for Solana is around $183.

The growing popularity of Solana’s network has quickly made it a magnet for developers and retail users. Its high throughput and near-zero transaction costs have been a major driver of this growth. While a Solana spot ETF may still seem premature, this widespread adoption definitely backs the case for a Solana spot ETF.

For Solana spot ETFs, the SEC has until October 10, 2025 to reach a final conclusion. To be honest, that’s not what everybody is excited about — everybody is hoping to get a ruling long before then. According to industry watchers, the SEC is on course to provide a final ruling on Solana ETFs as soon as late July. This positive outcome is contingent on how quickly and comprehensively the issuers engage with the SEC’s requests. Bloomberg Intelligence analysts have just upped the odds of Solana receiving a spot ETF approval to 90%. This boost is indicative of the increasing enthusiasm and positivity that’s surrounding these investment products.

Approval Timeline and Industry Sentiment

2) Optimism surrounding Solana ETFs is building. This change is indicative of a broader trend of growing institutional acceptance towards crypto-based investment products. If approved, this would mark the first Solana spot ETF and be a significant milestone for the cryptocurrency market. Perhaps this would increase institutional investment and further legitimize this asset class.

The increased optimism surrounding Solana ETFs is part of a broader trend of growing institutional acceptance of crypto-based investment products. The potential approval of a Solana spot ETF would mark a significant milestone for the cryptocurrency market, opening the door to increased institutional investment and further legitimizing the asset class.