Road to Solana on site
Exchange-traded funds (ETF) Probably much shorter than expected.
The Securities and Exchange Commission asked potential issuers to respond to comments by the end of July and re-document the revised S-1 document, two people familiar with the matter told Coindesk.
One individual said that technically the SEC must approve or deny the fund by October 10, but appears to be hoping to speed up the process and approve one or more funds before that deadline.
The reason may be Rex-Kong Sol and the latest approval of Staking ETF (SSK) The Commission had no choice but to be able to fall under the Investment Companies Act of 1940, and therefore automatically approved unless the SEC ceased.
SSK Trading started last weekbecoming the first Solana deposit fund on the market, which gives it a first step advantage over the remaining solana ETFs. This is something the SEC has tried to prevent before, which is why it approved several seats
Simultaneous with Bitcoin ETF.
“I think the SEC approved these issues faster than waiting for October approval, especially the Rex product that was approved last week,” said one person familiar with the matter.
In June, the commission asked the issuer to modify the S-1 documents of the SOLANA ETF they requested and include language for physical redemption and creation, as well as Strateking, the first official communication from the SEC on these potential products.
Spot Solana ETF will be the third spot crypto fund in the US market after approval of the spot Ether and Bitcoin funds. Other unsatisfactory apps include funds tracking XRP prices
Dogecoin and Litecoin etc.
