ChainCatcher reports that, according to Blockworks citing informed sources, the US SEC has requested issuers planning to launch a spot Solana ETF to update their S-1 prospectus, suggesting that approval might be imminent. Although the exact approval timing is unclear, Bloomberg senior ETF analyst Eric Balchunas expects approval could come within two to four months.

In an interview with The Block, he stated that spot ETFs for Solana, XRP, and others are likely to be approved in the future, possibly facing approval deadlines in October. July could see a portfolio of spot ETFs including Solana, XRP, Ethereum, and Bitcoin. Issuers are rushing to launch spot ETFs to gain a first-mover advantage.

Balchunas also mentioned that a large number of spot products will emerge over the next four months, but on a smaller scale. Achieving a scale of 1 billion USD for Solana and XRP would be considered good.