Solana ETF talks “progressing” at SEC: report

Solana exchange-traded funds could come to Wall Street in 2025 as issuers privately disclose their dialogue with the SEC and President Donald Trump’s administration raises industry hopes.

According to Fox Business, agency staff at the U.S. Securities and Exchange Commissions have met with exchange-traded fund issuers regarding spot Solana (SOL) ETF applications. Two insiders reportedly said national exchanges such as the CBOE may even be able to file 19b-4 forms on behalf of companies “in the coming days.”

VanEck, 21Shares, and Canary Capital have filed respective SEC filings for spot SOL ETFs. Bitwise has also expressed interest in filing S-1 documents, as have three issuers.

Forms S-1 and 19b-4 are the two official documents required to bring new classes of ETFs to market. Issuers typically manage the registration of securities or S-1 filings, while exchanges oversee 19b-4s, which propose rule changes to allow new listings.

The SEC has no obligation to approve applications after receiving documents from issuers and exchanges. In August, CBOE removed the 19b-4 forms available on its website for VanEck and 21Shares.

Uncertainty regarding the SEC’s view of Solana’s security posture under Chairman Gary Gensler was identified as the primary reason. But industry leaders have noticed changes in America’s regulatory headwinds since Donald Trump became president-elect.

Trump’s team was evaluating candidates for the first crypto job in the White House. Many pro-crypto names have emerged as top choices for important roles such as SEC chairman and Treasury Secretary.

U.S. officials’ growing confidence in a relaxed approach to digital assets has raised hopes of expanding the existing suite of crypto ETFs. Feedback from SEC agency staff has increased optimism about the possibility of Solana ETFs launching next year.