11-6-2025 – The US Securities and Exchange Commission (SEC) has reportedly urged issuers of prospective spot Solana exchange-traded funds (ETFs) to refine their S-1 filings. According to industry insiders cited by Blockworks, this signals that approvals could be imminent.
This move follows the SEC’s approval of spot Bitcoin and Ether ETFs last year, which triggered a wave of applications for altcoin-based ETFs, including those for SOL, XRP, and others. Despite rising optimism, the SEC has so far withheld approval for these funds. Notably, recent delays have impacted Bitwise and 21Shares’ spot Solana ETF proposals.
Solana market reacts to ETF momentum
The anticipation surrounding Solana ETFs has spurred significant market activity. According to The Block, Solana’s price rose 4%, from $158 to $164, amid growing speculation around a potential approval timeline.
Companies tied to Solana also saw gains. DeFi Development Corp. shares jumped 17% from $23 to $27, while SOL Strategies climbed 8.4%, based on Nasdaq data from June 10.
Analysts predict approvals by October
Eric Balchunas, senior ETF analyst at Bloomberg, offered a cautiously optimistic view. He suggested that spot Solana ETFs could receive approval within two to four months. He predicted a potential wave of altcoin ETF launches, including Solana and XRP, by October—possibly even as early as July.
“Issuers are vying to outpace competitors with innovative strategies to be first to market,” Balchunas said, noting the competitive edge that early launches might deliver.
He estimated that Solana and XRP ETFs could each attract around $1 billion in assets—a modest sum compared to their Bitcoin and Ether counterparts but significant for altcoins.
Outlook: Avalanche of spot crypto ETFs incoming?
While exact timelines remain uncertain, Balchunas foresees an “avalanche” of spot crypto products entering the market over the next four months. Although these new ETFs are unlikely to match the scale of Bitcoin and Ether funds, they could significantly expand investment options in the crypto space.
