Odaily Planet Daily News: Three people familiar with the matter said that the U.S. Securities and Exchange Commission (SEC) has asked potential Solana ETF issuers to submit a revised S-1 form within the next week. Two of the sources added, "The agency informed the issuer that it will comment on the S-1 document within 30 days of submission. The SEC asked the issuer to update the wording on physical redemptions and how the issuer handles pledges, adding that the agency seems willing to include pledges as part of the Solana ETF." Another source estimated that these updates could make the Solana ETF expected to be approved within three to five weeks. James Seyffart of Bloomberg Industry Research said he expects approval this year, possibly as early as July. Seyffart wrote in a report this week, "We believe that the SEC may now focus on processing Solana's 19b-4 application and pledge ETF earlier than planned. Issuers and industry participants may have been working with the SEC and its cryptocurrency working group to develop rules, but the agency's deadline for making a decision on such applications is not until October."