SEC Approves Solana ETF Application

The U.S. Securities and Exchange Commission (SEC) has approved Grayscale's modified request to launch a Solana ETF. This decision follows the rejection of previous applications due to misclassification as a commodity trust share. Other major companies have also applied to launch a Solana ETF. The president of ETF Store predicts that the ETF will be approved by the end of next year, while a Bloomberg analyst believes the process could take until 2026.