The SEC has asked applicants to clarify key details, including redemption mechanisms (especially for in-kind redemptions) and plans regarding staking features in the ETF structure. These clarifications are seen as crucial for meeting regulatory expectations and could help expedite the approval process.

According to one source, the prompt revision of application language may accelerate a green light for the Solana ETF, with approval potentially arriving within three to five weeks. Bloomberg Intelligence analyst James Seyffart commented that he anticipates a Solana ETF launch by the end of the year—possibly as early as July.

Fellow Bloomberg Intelligence expert Eric Balchunas added that the summer of 2025 could see a flurry of spot altcoin ETFs come to market, with Solana positioned as the likely frontrunner. He referenced Seyffart’s revised odds for spot crypto ETF approvals, which have become increasingly optimistic in recent weeks.

The update follows recent news that Ark Invest has invested over $10 million in 3iQ’s spot Solana ETF, signaling robust institutional interest in Solana-based investment products.