The U.S. Securities and Exchange Commission (SEC) has acknowledged a proposed rule change by NYSE Arca to list the Grayscale Solana Trust as a commodity-based trust, signaling that Solana may not be considered a security. This is the first time the SEC has acknowledged an ETF filing for a coin that had previously been called a security. The SEC could approve the rule change, but the final decision could be delayed for up to 240 days. If approved, it could open the door for spot cryptocurrency ETFs beyond Bitcoin and Ethereum. The SEC's decision is still uncertain and will depend on its evaluation of Solana's regulatory status.



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