PiCK
Solana Spot ETF Approval Imminent… US SEC Requests S-1 Document Revisions from Three Wall Street Firms
Summary
- The US SEC reportedly requested revisions to the S-1 documents from three Wall Street asset management firms preparing the Solana (SOL) spot exchange-traded fund (ETF).
- The main content of the revision request focuses on clarifying the virtual asset (cryptocurrency) redemption method and the Solana staking reward structure.
- It is reported that the SEC's action has raised expectations that approval of the Solana spot ETF could come within days or weeks.
The US Securities and Exchange Commission (SEC) has requested revisions to documents from Wall Street asset management companies preparing for the Solana (SOL) spot exchange-traded fund (ETF), raising expectations that approval is imminent.
According to Bloomberg on the 12th (local time), the SEC has asked at least three asset managers to revise and clarify two key elements of the Solana Spot ETF S-1 (registration statement): the 'virtual asset (cryptocurrency) redemption method' and the 'Solana staking reward structure.'
Noelle Acheson, author of Crypto is Macro Now, analyzed, "The SEC's request for S-1 document revisions means there is a possibility the ETF could be approved within days or, at most, a few weeks." Meanwhile, at least seven managers, including Grayscale, Bitwise, and VanEck, are preparing to launch a Solana spot ETF.
Suehyeon Lee
shlee@bloomingbit.ioI'm reporter Suehyeon Lee, your Web3 Moderator.
