SEC's Review Timeline for Solana Spot ETF Applications

According to PANews, Sosovalue's macro analyst has highlighted the dual review process required for cryptocurrency spot ETFs under the current SEC regulatory framework. This involves the S-1 registration document and the 19b-4 exchange rule adjustment document. The SEC is mandated to announce preliminary results within 45 days of accepting the 19b-4 document, with a final decision due no later than 240 days. Taking the Grayscale Solana Trust as an example, its 19b-4 document was accepted by the SEC on February 12. The SEC can reject or delay within the first 30 days but cannot directly approve it. Therefore, the earliest approval window opens on March 14, with the preliminary review deadline set for March 29. This period may signal crucial regulatory developments. If the Grayscale Solana Trust is approved, other SOL spot ETFs like the Bitwise Solana ETF, which use the same exchange rule adjustment, might also receive approval, potentially triggering a market liquidity response. Based on the approval duration for Bitcoin spot ETFs, which can take up to 240 days, the latest approval date for the SOL spot ETF would be October 10, 2025. However, given the current regulatory environment, there is widespread anticipation that the SEC's approval process might be expedited.