The SEC requires the issuance applicants for the Spot Solana ETF to update their S-1 filings, and analysts expect approval within four months.

PANews reported on June 11 that according to Blockworks, citing people familiar with the matter, the SEC has asked the issuer of the proposed spot Solana ETF to update its S-1 prospectus, which suggests that relevant approvals may be imminent. Although the exact timing of the approval is unknown, Eric Balchunas, a senior ETF analyst at Bloomberg, expects it to be approved within two to four months. In an interview with The Block, he said that spot funds such as Solana and XRP are likely to be approved in the future, or usher in the approval deadline in October, and a spot ETF portfolio containing Solana, XRP, Ethereum and Bitcoin may appear in July. Issuers are preemptively launching spot ETFs to gain first-mover advantage. Balchunas also said that there will be a lot of spot products in the next four months, but on a smaller scale, and it would be nice for Solana and XRP to reach $1 billion.