The SEC has directed Solana ETF applicants to resubmit filings by July 31, potentially accelerating approval ahead of the October 10 deadline. Market sentiment shows 99% confidence in approval by year-end.
By Ibrahim Ajibade
Editor Marco T. Lanz
Updated
3 mins read
The US Securities and Exchange Commission (SEC) appears poised to approve Solana ETFs faster than expected as the regulator directs issuers to re-submit filings by a new July 31 deadline.
Solana’s ETF review process could be accelerated, as the Securities and Exchange Commission has requested that all applicants amend and resubmit their S-1 filings by the end of July, according to a CoinDesk report on Monday.
While the agency’s formal deadline for a decision remains October 10, this new directive signals an effort to accelerate approvals before Q4.
The urgency appears linked to the approval and launch of the REX-Osprey SOL and Staking ETF (SSK), which became the first Solana staking fund to go live last week under the Investment Company Act of 1940.
Solana ETF Approval Odds as of July 7, 2025 | Source: Polymarket
At press time, Polymarket bettors are now pricing in 99% of SOL ETF approval before the end 2025.
According to the CoinDesk report, ccording to the CoinDesk report, the SEC requested clarification on staking and in-kind redemptions in June comment letters to applicants. It remains to be seen if the new Solana ETF deadline brings clarity to what has remained a gray area since BTC $108 323 24h volatility: 0.4% Market cap: $2.15 T Vol. 24h: $26.26 B and ETH $2 559 24h volatility: 0.3% Market cap: $308.90 B Vol. 24h: $16.38 B approvals in January 2024.
Solana SOL $149.3 24h volatility: 1.2% Market cap: $79.99 B Vol. 24h: $4.32 B was trading at $149 at press time, trending sideways along with the broader market sentiment. While SOL currently faces stiff resistance clusters overhead, the falling wedge pattern hints at a potential breakout towards $260 if formal SOL ETF approval materializes before October 10.
Historically, ETF approvals have delivered strong upside for native tokens. Bitcoin rallied over 40% after its ETF approval in January, while Ethereum gained 25% following its own approval in May. Should this pattern repeat, SOL could climb toward $200, if positive sentiment surrounding SOL ETF triggers institutional demand.
Solana price | Source: TradingView
On the technical front, Solana price experienced a 2% intraday dip, falling below the $150 psychological support. However, the Bollinger middle band shows the token still trades above its 20-day moving average, signaling active buyer interest.
The key short-term resistance lies at the $158 level marked by the Bollinger upper band. A decisive daily close above this level could confirm a breakout, with $180 as the next target and $265 as a longer-term bullish target for Solana price, highlighted by the falling wedge pattern.
Conversely, failure to hold above the $150 psychological level may trigger renewed selling pressure, with $135 as the next major support to watch.
As institutional investors switch focus to Solana, retail traders are ramping up activity within the meme coin sector. Snorter, the Solana-native Telegram trading bot, has crossed $1.5 million in its $SNORT token presale, with prices holding at $0.0973.
With Solana at the center of ETF momentum, Snorter is emerging as the go-to tool for retail traders looking to capitalize on Solana-native opportunities. Visit the official Snorter website to join the presale.
Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.
Ibrahim Ajibade is a seasoned research analyst with a background in supporting various Web3 startups and financial organizations. He earned his undergraduate degree in Economics and is currently studying for a Master’s in Blockchain and Distributed Ledger Technologies at the University of Malta.
