SOL Coin price surpassed $250 while this article was being prepared, pushing the 2024 peak even higher. This surge is attributed to a report sourced from two individuals familiar with the matter. If these leaks are accurate, the altcoin market may see an upswing, starting with SOL and ETH support. Meanwhile, BTC prices continue to fluctuate within a tight range of $97,000 to $96,500.
When Will Solana (SOL) ETF Approval Happen?
Fox Business reporter Eleanor Terrett recently made a significant announcement that excited Solana 
$238 (SOL) stakeholders. Investors were already anticipating the approval of pending ETF applications, especially following Gensler’s resignation. However, insiders indicate that the current administration is also progressing the process.
Eleanor Terrett wrote;
“According to two knowledgeable sources, the S-1 forms for SOL Spot ETF are moving forward. These individuals suggested that we might soon see some 19b4 applications to exchanges on behalf of potential issuers, marking the next step in the ETF approval process.”
Currently, VanEck, 21Shares, and Canary have submitted ETF applications. Bitwise has expressed its intention to apply. The 19b4 forms will be filed with the CBOE. Once the SEC acknowledges receipt of the application, a 240-day period begins for approval or rejection. Filing 19b4 does not guarantee SEC approval. Indeed, previous 19b4 applications from VanEck and 21Shares were removed from CBOE’s site in August, with some industry participants attributing this to Gensler’s influence.
Now, issuers believe that recent staff engagement to advance the process, combined with a crypto-friendly administration, could lead to SOL ETF approval by 2025.”
