SEC puts Solana ETF race in motion: Four new filings acknowledged – Is approval on the horizon?

• The SEC is reviewing a number of Solana ETF purposes, signaling rising institutional curiosity.
• Analysts predict Litecoin and Dogecoin ETFs have increased approval probabilities than Solana and XRP.

The U.S. Securities and Trade Fee (SEC) is now reviewing a number of purposes for Solana [SOL] exchange-traded funds (ETFs).

With corporations like Canary Capital, VanEck, 21Shares, and Bitwise coming into the race, curiosity in bringing SOL to Wall Road is gaining momentum.

Seeing this rising hype, market watchers are intently monitoring whether or not Solana may comply with within the footsteps of Bitcoin [BTC] and Ethereum [ETH] ETFs.

Supply: SolanaFloor/X

Solana ETF acknowledged by Grayscale

For these unaware, the race to launch a Solana ETF started when the SEC acknowledged Grayscale’s Solana ETF software final week.

This recognition positioned Grayscale as a possible frontrunner in a wave of SOL-focused proposals.

The regulator has now opened a 21-day public remark interval on NYSE Arca’s proposal to checklist and commerce the Grayscale Solana Belief, marking an important step within the approval course of.

In the meantime, Franklin Templeton registering the “Franklin Solana Belief” in Delaware on the tenth of February, suggesting the asset supervisor is getting ready to enter the SOL ETF market.

Polymarket and worth development

This has resulted in robust market sentiment round a possible SOL ETF approval in 2025. Polymarket information displays an 83% likelihood of approval.

This rising optimism comes amid current worth fluctuations, as SOL was buying and selling at $195.73, at press time.

The coin suffered a 4.47% decline over the previous 24 hours, in accordance with CoinMarketCap.

Regardless of short-term volatility, the rising probability of regulatory approval suggests institutional demand for Solana-based funding merchandise may speed up, probably influencing SOL’s long-term market trajectory.

Seeing this hype round SOL ETF, James Seyffart noted, 

“Replace: As anticipated. SEC is acknowledging extra Solana filings. The necessary ones shall be in the event that they acknowledge XRP & Doge filings.”

Different altcoin ETFs in pipeline

Whereas Bloomberg analysts prompt that Litecoin [LTC] and Dogecoin [DOGE] ETFs stand a greater probability of SEC approval earlier than SOL and Ripple [XRP], current developments point out a shifting regulatory focus.

As regulatory momentum builds, the approval timeline for crypto ETFs stays unsure.

Nevertheless, the heightened consideration on Solana suggests it may play a pivotal position in shaping the following part of institutional crypto adoption.

Remarking on the identical, Eric Balchunas put it greatest when he said,

“Our official altcoin ETF approval odds are out. Litecoin leads with a 90% probability, then Doge, adopted by Solana and XRP. We’re solely doing 33 Act $IBIT-esque filings. However it’s doable to see futures or Cayman-subsidiary kind 40 Act stuff get by as effectively,”