SEC Calls for Public Comments on Grayscale Solana ETF

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The US Securities and Exchange Commission recently took a significant step towards approving spot Solana exchange-traded funds in the US.

This was after the commission acknowledged a revised application from Grayscale, making it the first SOL ETF to be considered for approval.

According to analysts, this move is newsworthy as the SEC has previously rejected similar filings for spot Solana ETFs. Bloomberg ETF analyst James Seyffart stated that this development is noteworthy, especially because the SEC has been rejecting such filings in recent attempts.

His colleague Eric Balchunas also described it as a significant development, albeit a small one. He attributed this change to the new leadership at the SEC.

According to finance lawyer Scott Johnsson, the SEC had previously rejected spot Solana ETFs under the watch of Gary Gensler. This was because they were filed as commodity trust shares. In January, Seyffart had predicted that it would take until 2026 for the SEC to approve a spot Solana ETF.