Multiple institutions have submitted updated Solana ETF S-1 documents

Odaily Planet Daily News On June 13, Franklin Templeton, Galaxy Digital, Grayscale, VanEck and other companies submitted updated S-1 documents for Solana spot ETFs, and Fidelity also submitted S-1 registration documents for its Solana fund, which is regarded as Fidelity's first application for spot Solana ETP. According to recent regulatory documents, the SEC has asked several potential Solana ETF issuers to update their S-1 documents, especially for the description of physical redemption and pledge mechanisms. This move is considered a signal that the SEC has changed its attitude towards the approval of Solana spot ETFs, and it is expected that Solana spot ETFs may go online in the next two to four months. Although the SEC has approved spot ETFs for Bitcoin and Ethereum and some hybrid crypto stock funds, the SEC remains cautious about ETF products that track other tokens, especially the delay in the approval of funds such as Avalanche, Dogecoin and Hedera. Experts believe that Solana has a better chance of approval in a more friendly SEC regulatory environment, especially against the backdrop of CME launching Solana futures. (The Block)