SOL Surges 5% Amid Growing Buzz Around Potential Solana Spot ETF

Solana Spikes 5% as SEC Engages ETF Issuers on Path Toward Spot Fund Approval

Solana’s SOL token jumped 5% on Tuesday evening after a Blockworks report revealed that the U.S. Securities and Exchange Commission (SEC) is taking concrete steps toward reviewing spot Solana ETF applications.

According to the report, the SEC has asked asset managers seeking to launch SOL-based ETFs to update their S-1 filings within the coming week. The agency is expected to provide formal comments within 30 days of submission — a sign that the process is progressing beyond early-stage deliberations.

The market responded swiftly, with SOL climbing above $164 shortly after the news broke, extending its 24-hour gains to nearly 5%.

Following the greenlighting of spot bitcoin and ether ETFs in 2024, attention has shifted to expanding access to other top-tier digital assets. Several major firms — including Grayscale, Fidelity, Franklin Templeton, and VanEck — are now vying for approval to offer spot Solana ETFs, aiming to provide mainstream investors with simplified exposure to the fast-growing blockchain platform.

The move would mark a significant milestone for Solana, potentially increasing its institutional footprint and reinforcing its position alongside Ethereum and Bitcoin as an investable crypto asset under U.S. regulatory frameworks.

CoinDesk reached out to the listed ETF applicants for confirmation, but no statements had been received by the time of publication.