The SEC has set a deadline of July, requiring Solana ETF applicants to resubmit their documents.

On July 7, according to informed sources, although the first final approval deadline for the Spot Solana Exchange Traded Fund (ETF) is October 10, the U.S. Securities and Exchange Commission (SEC) is under pressure to ensure the approval process proceeds smoothly. The SEC has requested that the issuer modify and resubmit the Spot Solana ETF application by the end of July, suggesting that the approval speed may be faster than expected. This move follows the automatic approval of the REX-Osprey SOL and Staking ETF, which started trading last week, having received automatic approval under the Investment Company Act of 1940, which the SEC could not block. An informed source stated, "The SEC is under pressure to speed up the approval process rather than wait until the October deadline, especially considering that the REX Shares product was approved last week." This reflects that the SEC may be adjusting its strategy to avoid a single product gaining too much of a first-mover advantage.