A few weeks ago, it was claimed that the SEC requested S-1 updates for SOL Coin ETFs. Now, a more significant development has taken place. The CEO of one of the companies applying for the ETF has announced promising news.
Solana’s Recent Surge
The REX-OSPREY Solana 
$85 ETF, featuring staking options, is set to begin trading on Wednesday. Despite the CEO’s announcement propelling SOL Coin’s price above $155, investors seem unconvinced so far.
Eric Balchunas, an ETF analyst at REX Shares, mentioned on Friday that approval for their SOL Coin ETF application might be imminent. He noted that the prospectus update was complete, indicating this is the final step; however, the announcement must come from the SEC.
Breaking Through Regulatory Barriers
Nate Geraci, president of the ETF Store, commented prior to today’s approval news:
“They can proceed with a ‘40 Act structure.’ This is a different strategy than other applications.”
Geraci pointed out that compared to other applications, the 40 Act structure bypasses regulatory hurdles. However, the SEC typically provides equal opportunity to all issuers in an ETF approval. An announcement from the SEC is likely expected later today.
The excitement surrounding the imminent launch of the REX-OSPREY Solana ETF is palpable in the cryptocurrency market. As the new ETF enters the trading arena, it is poised to influence Solana’s market performance.
Anticipation grows as market participants await SEC’s final declaration, which could potentially accelerate or decelerate recent market movements. Amidst the dynamic market flux, stakeholders remain keen to observe future developments surrounding the Solana ETF.
