SEC Opens Review Period for Grayscale Solana ETF – A Turning Point for Crypto ETF?

The SEC has initiated a 21-day public review period for the proposed Grayscale Solana ETF, signaling a potential shift in regulatory stance. Analysts see this as a step toward broader crypto ETF adoption.

SEC Acknowledges 19b-4 Filing for Grayscale Solana Trust

In a significant regulatory development, the U.S. Securities and Exchange Commission (SEC) has officially acknowledged a 19b-4 filing from NYSE Arca to list and trade the Grayscale Solana Trust (SOL ETF). This acknowledgment kicks off a 21-day comment period, during which industry stakeholders, financial experts, and retail investors can submit their opinions on the listing proposal.

This procedural step is crucial in the multi-phase approval process for a spot crypto ETF. The first stage involves an exchange submitting a proposal to list the asset, followed by a regulatory review by the SEC. During the public comment period, the agency assesses market concerns, investor protection mechanisms, and compliance with existing financial regulations.

At the end of this phase, the SEC will either:

• Approve the ETF listing
• Reject the proposal
• Extend deliberations for further scrutiny

This formal recognition is particularly noteworthy as it marks the first time the SEC has accepted an ETF filing tracking Solana (SOL)—a cryptocurrency previously categorized as a security under the previous administration’s enforcement approach.

Analyst Reactions: A Shift in SEC’s Stance on Crypto ETFs?

Bloomberg ETF analyst James Seyffart was quick to highlight the importance of the SEC’s decision, stating that the agency had previously declined to review similar filings for Solana.

“SEC just acknowledged the Grayscale Solana 19b-4. This is actually newsworthy because the SEC had refused to do this in recent filing attempts for SOL.”

Eric Balchunas, a senior Bloomberg ETF analyst, also weighed in, pointing out that just six weeks ago, the SEC instructed CBOE (Chicago Board Options Exchange) to withdraw its own Solana ETF proposal.

“So we are now in new territory, albeit just a baby step, but seemingly the direct result of leadership change.”

This acknowledgment aligns with the broader regulatory shift under President Donald Trump’s administration, which has demonstrated a more open stance toward cryptocurrency investments.

Regulatory Landscape: Trump’s Crypto Task Force & Future Implications

Since Trump’s return to office, crypto regulation has taken center stage. The administration established a crypto task force within the SEC, led by Commissioner Hester Peirce (known as “Crypto Mom” for her pro-crypto stance).

This task force is expected to:
✅ Clarify regulatory frameworks for digital assets
✅ Determine security classifications for tokens like Solana
✅ Streamline approval processes for crypto ETFs
✅ Encourage institutional crypto adoption

If the Grayscale Solana ETF is approved, it could pave the way for similar altcoin ETFs beyond just Bitcoin (BTC) and Ethereum (ETH), significantly expanding the institutional crypto investment landscape.

Conclusion: What’s Next?

With 21 days of public feedback now underway, the next move belongs to the SEC. While acknowledgment does not guarantee approval, it represents a notable shift in regulatory sentiment.

As the Trump administration continues pushing for financial innovation, investors and analysts will be watching closely to see if Solana becomes the next major cryptocurrency ETF to hit Wall Street.

Our creator. creates amazing NFT collections! 
Support the editors - Bitcoin_Man (ETH) / Bitcoin_Man (TON)

Pi Network (Guide)is a new digital currency developed by Stanford PhDs with over 55 million participants worldwide. To get your Pi, follow this link https://minepi.com/Tsybko and use my username (Tsybko) as the invite code.

Binance: Use this link to sign up and get $100 free and 10% off your first months Binance Futures fees (Terms and Conditions).

Bitget: Use this link Use the Rewards Center and win up to 5027 USDT!(Review)

Bybit: Use this link (all possible discounts on commissions and bonuses up to $30,030 included) If you register through the application, then at the time of registration simply enter in the reference: WB8XZ4 - (manual)