Solana ETF Review Speeds Up, While SEC Delays DOT, HBAR Decisions

The U.S. SEC is giving signals that it could approve Solana-based exchange-traded funds soon. In a major move, the commission has recently asked ETF issuers to make amendments and re-apply their S-1 filings for Solana ETFs. These filings are a crucial move in the whole process of approval. Also this request by the SEC, depicts the agency is working on a quicker timeline.

SEC Moves Closer to Solana ETF Approval

According to Bloomberg analyst James Seyffart, the commission might approve SOL ETFs by July 2025. However, there’s a chance the final decision could be pushed to the end of the year. What’s giving hope to the crypto community is that the SEC is now actively reviewing both the S-1 and 19b-4 forms for these ETFs.

Seyffart believes that this shows a shift in the SEC’s attitude. The agency seems more open to allowing crypto investment products, especially after approving spot Bitcoin and Ethereum ETFs earlier this year. These ETFs could be the next major step.

Approval of this ETF can boost the confidence of people in altcoins and will push more filing for such products related to cryptocurrencies. After this news the price of the currency jumped from $147 to $164. It is currently trading at $165.05 with an increase of about 3.82% within just one day. The trading volume has also increased by 41.99% to reach $5.39 billion.

Staking Might Be Included in Solana ETFs

A prominent feature that could be added to this new crypto product is staking. This will enable investors to get rewards while holding the crypto within the fund similar to how usual solana holders hold on-chain.

The first product aiming to do this is the Canary Marinade SOL ETF, which plans to use Marinade Finance as its exclusive staking provider. This would make it the first Exchange Traded Fund in the United State to include staking within a Solana-based product.

The prediction by polymarket says that it is 91% probable that the SOL ETF will get approved this year.

Source: Polymarket

This will enable the institutional investors to earn yield, offering SOL a competitive edge to other blockchain platforms in an effort to appeal interest in the large-scale.

SEC Delays Polkadot and Hedera ETF Decisions

While Solana is getting a faster review, the SEC has chosen to delay its decisions on Polkadot (DOT) and Hedera (HBAR) ETFs. The filings, submitted by Grayscale and Canary Capital, were expected to meet their second deadline this week. But instead of moving forward, the SEC has asked for more public comments.

The next deadlines for these ETFs are in September and November 2025. Analyst Seyffart expects no final decision before the fourth quarter of this year. That means Grayscale and Canary Capital may have to wait several more months.

It's also worth noting that only Grayscale has filed for a Polkadot ETF so far. For Hedera, both Grayscale and Canary have submitted applications, with Canary being the first to file.

What It Means for Crypto Investors

If approved, the Solana ETF would join BTC and ETH in the list of digital assets available via conventional stock exchanges. This will offer new investment mediums for the general public who prefer regulated platforms. It also depicts the confidence in blockchain-based assets is improved by regulatory authorities.

The pull back for Polkadot and Hedera, however, indicates that not all initiatives will advance simultaneously. The SEC seems to be operating on a case-by-case basis, with the tokens that it is more confident in being given priority.

Final Thoughts

The SEC's recent moves suggest the future of crypto ETFs is brighter. Though Solana appears in high gear, Polkadot and Hedera have mountains to climb. But in general, this is a sign of progress. For investors and the crypto space, every new approval for an ETF offers more credibility, more access, and more confidence.