The rumor of Solana ETF approval causes SOL price to surge

Rumor has it that the SEC is asking potential Solana ETF issuers to update their S-1 forms within the next 30 days. This action can signal a tendency to approve products.

This news has caused the price of SOL to surge, and the Polymarket community has become more optimistic about the approval of the ETF in July. Other ETF products are also attracting attention.

Solana ETF may be launched soon

The crypto industry is speculating about the Solana ETF, which is considered a strong candidate for SEC approval. Despite the commission's delays over the past few months, the sentiment remains relatively optimistic.

Currently, as reports state that the SEC is making new moves, this is causing excitement in the market.

"Reports suggest that the SEC has requested the issuers of the potential Solana spot ETF to submit a revised S-1 form next week. Sources estimate that this update could put the SOL ETF on track for approval within 3-5 weeks, and the SEC also seems open to including staking," Nate Geraci, a prominent ETF analyst, stated.

Geraci's colleague, Eric Balchunas, stated that the SEC's approval could trigger an "altcoin ETF summer," with Solana leading the way.

Although the Commission has continually delayed all altcoin ETF applications in recent weeks, this update may signal readiness.

Of course, the price of SOL reacted well to this rumor, increasing by more than 4% today.

Solana price performance | Source: TradingViewIndeed, this trend seems to be spreading optimism throughout the crypto space. On Polymarket, the online prediction market, players are very optimistic about the approval of the Solana ETF in 2025.

However, the amount of this bet mainly designates December as the end date. Today, the approval rate in July has skyrocketed to 45%, a major turning point.

Approval rate of Solana ETF | Source: PolymarketAlthough this is good news for Solana, the optimism does not extend to other ETFs. For example, the approval rate for XRP ETF in July only increased by 4% and the approval rate in December has declined.

Of course, the community remains very optimistic about the XRP ETF, so these changes are not too surprising.

Rumors about the ETF have emerged at a great time for Solana. Although the price dropped sharply last month, SOL has started to recover this week and other market developments may help with price action.

It is still not possible to know exactly when the SEC will approve the Solana ETF, but the recent actions of the agency indicate a fairly positive movement.

Vincent