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Solana's SOL Jumps 5% on Report of Spot ETF Development
The SEC asked prospective ETF issuers to amend key paperwork, Blockworks reported.
Updated Jun 10, 2025, 7:37 p.m. Published Jun 10, 2025, 7:33 p.m.
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What to know:
- Solana's SOL surged 5% after a report that U.S. regulators are advancing the process for spot SOL ETFs.
- The SEC has requested amendments to S-1 filings from prospective issuers, with comments expected within 30 days, Blockworks reported.
- Asset managers including Fidelity, Grayscale, VanEck are seeking SEC approval to launch SOL funds, following the debut of bitcoin and ether spot ETFs.
Solana surged 5% in after U.S. hours on Tuesday on a Blockworks report saying that U.S. regulators are moving forward in the regulatory process necessary to make spot SOL exchange-traded funds (ETF) reality.
The U.S. Securities and Exchange Commission reportedly asked prospective issuers to amend their S-1 filings in the next week, according to the story, and will comment on the paperwork in the next 30 days after submission.
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SOL jumped above $164 in the minutes following the report, up nearly 5% over the past 24 hours.
After the debut of bitcoin and ether spot ETFs in the U.S. last year, asset managers are racing to get regulatory approval to launch similar vehicles for smaller cryptocurrencies, offering traditional investors easier access to invest in digital assets. Several asset managers have filed applications with the SEC to launch funds holding SOL, including Fidelity, Grayscale, Franklin Templeton and VanEck.
CoinDesk reached out to prospective issuers for confirmation but had not yet heard back at time of publication.
