Insider: US SEC requires Solana ETF issuer to submit revised S-1 form next week

Planet Daily News: Three informed sources said that the U.S. Securities and Exchange Commission (SEC) has requested potential Solana ETF issuers to submit revised S-1 forms within next week. Two of the sources added that "the agency informed issuers it will provide comments within 30 days after the S-1 filing. The SEC requires issuers to update language regarding physical redemption and how issuers handle staking, and suggested the agency seems willing to include staking as part of the Solana ETF." Another source estimated that these updates might make the Solana ETF approval possible within three to five weeks. Bloomberg Industry Research's James Seyffart stated he expects approval this year, potentially as early as July. Seyffart wrote in a report this week, "We believe the SEC may now focus on processing Solana's 19b-4 application and staking ETF earlier than planned. Issuers and industry participants may have been collaborating with the SEC and its cryptocurrency working group to develop rules, but the agency's final deadline for such applications is October."