The SEC has begun considering applications for spot Solana ETFs, with a potential deadline extension until October 16. Major asset managers including Grayscale, Bitwise, Canary, 21Shares, and VanEck have filed applications. The approval of Solana ETFs would expand access to digital asset-focused products. Bloomberg Senior ETF Analyst Eric Balchunas estimates a 70% chance of approval this year but states that the timing remains uncertain. Factors that could indicate approval momentum include feedback from the SEC on proposed rule changes, meetings between asset managers and the SEC to address questions, and potential developments in enforcement actions. Trump's nominee for SEC Chair, Paul Atkins, could also impact the approval process. The approval of spot Bitcoin ETFs following Grayscale's legal triumph in 2023 has changed the SEC's stance on crypto. Coinbase's move to debut futures contracts for Solana regulated by the CFTC could increase the odds of a Solana ETF.



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