The U.S. SEC requires potential Solana ETF issuers to submit revised S-1 filings.

BlockBeats News, June 11th, according to Blockworks citing three sources familiar with the matter, the U.S. Securities and Exchange Commission (SEC) has requested potential Solana ETF issuers to submit revised S-1 filings within the coming week. Two of the sources added that the SEC stated it would provide comments and feedback within 30 days of the S-1 filing submission.

The sources revealed that the SEC has asked issuers to update provisions related to in-kind redemptions and the handling of staking. The SEC also appears open to incorporating staking into the Solana ETF, according to these sources. One source estimated that these updates could potentially allow the Solana ETF to gain approval within three to five weeks. Bloomberg Intelligence analyst James Seyffart told Blockworks that he expects the Solana ETF to receive approval this year, possibly as early as July.

Seyffart wrote in a report this week: "We believe the SEC might address Solana and staking-related ETF 19b-4 filings earlier than initially anticipated. Issuers and industry participants are likely collaborating with the SEC and its crypto team to establish relevant regulations, but the latest deadline for the SEC to make a final decision on such filings is October of this year."