The US SEC requires applicants for spot Solana ETF issuance to update their S-1 documents, and analysts expect approval within four months

According to sources cited by Blockworks, the US SEC has requested issuers intending to issue spot Solana ETFs to update their S-1 prospectus, implying that approval may be imminent. Although the specific approval time is unknown, Eric Balchunas, a senior ETF analyst at Bloomberg, predicts that it may be approved within two to four months. He said in an interview with The Block that spot funds such as Solana and XRP are likely to be approved in the future, or face the approval deadline in October, and a spot ETF portfolio containing Solana, XRP, Ethereum, and Bitcoin may appear in July. The issuer is taking the lead in launching spot ETFs to gain a first mover advantage. Balchunas also stated that a large number of spot products will emerge in the next four months, but the scale will be relatively small. Solana and XRP can reach a scale of 1 billion US dollars, which is good.