You Won’t Believe What the SEC Just Demanded of Solana ETF Applicants! 🤯📝

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It is a truth universally acknowledged, that a regulator in possession of unusual power must be in want of a revised Form S-1 — or so it would seem from the recent conduct of the United States Securities and Exchange Commission. Upon the perusal of a most diverting report from CoinDesk, I learned that those zealous asset managers, whose happiness quite depends upon gaining the approbation of said Commission for their spot Solana exchange-traded funds, have been most bribingly implored to hasten, nay, to briskly trot, to file these documents anew before the dreadful specter of July’s end is upon them. ⏳

Messrs. Solana (SOL) spot ETF issuers, be not negligent! The SEC, surely tired of waiting (as one might be for an eligible suitor in a dance-less assembly room), desires that all such S-1s, now to be much improved, be returned post-haste—within a scant three weeks. The urgency is quite nearly alarming, almost as if the market itself dares the SEC to keep pace. Meanwhile, our plucky SOL token carried on, trading at $151, quite unaffected by the commotion swirling around it. 💸

What does this mean?

How the analysts do bustle! Indeed, they have long insisted—quite as Mrs Bennet might pester about daughters’ prospects—that the SEC fancies these Solana ETFs exceedingly: Mr Eric Balchunas and Mr James Seyffart of Bloomberg, wise after their fashion, estimate Solana’s chances for a 2025 ETF debut rather over 95%. Hope abounds, but do not purchase your celebratory bonnets quite yet! The October deadline lurks, ever the stern chaperone, with approvals for Litecoin, XRP, Dogecoin, Cardano, and other digital darlings awaiting their fate. 🧐

For the enterprising gentry at Canary, Grayscale, Franklin, Invesco, Fidelity, VanEck, Bitwise, 21Shares, and CoinShares, the anxiety must be immense; October 10, 2025, is not just a date, but a season to be dreaded and, perchance, delighted in. The regulator, ever eager, requests explicit detail on matters such as staking and in-kind redemptions—perhaps longing for such particulars the way some long for a well-executed country dance. It is clear: the SEC aspires to hasten affairs, and one fears they might soon request all applicants rehearse their manners and submit to a quiz on DeFi etiquette at Almack’s itself!

There is precedent for such zeal: recall, if you will, the SEC’s exertions over spot Ethereum ETFs in 2024. What energy! What forwardness! Not to be outdone, the regulator recently ordained the listing and trading of the REX-Osprey SOL and Staking ETF; under the banner SSK, it waltzed onto the market and pirouetted to an impressive $33 million in volume, $12 million in inflows, and more than a little admiration. 💃📈

The REX-Osprey’s application strutted under the Investment Company Act of 1940—a fortuitous debutante indeed, for it enjoyed the luxury of automatic approval (a circumstance universally envied). Elsewhere, Bitwise, ever eager to bestow more suitors, has recently submitted enhanced S-1s for its Dogecoin and Aptos ETFs. According to Balchunas, such industriousness may well please the Commission; and in so doing, flatter the fickle affections of the marketplace. If only all courtships resolved as swiftly as this ETF saga! 😉

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2025-07-07 20:48