Key Highlights:

• The SEC has acknowledged Grayscale’s Solana and Litecoin ETF filings, marking the first official recognition of a Solana ETF proposal.

• Analysts suggest this could signal a regulatory shift under new leadership, with a final SEC decision expected by October.

Ladies and Gentlemen of ParadiseClub! For years, the SEC has played the role of the overprotective parent, slamming the door on crypto ETF applications faster than you can say ‘decentralized finance.’

But in a surprising turn of events, the agency has acknowledged Grayscale’s proposals for Solana and Litecoin exchange-traded funds (ETFs).

This is the first time the SEC has officially recognized a Solana ETF filing, suggesting that the agency’s historically frosty stance toward crypto may be thawing.

So what’s changed?

The SEC’s leadership shake-up could be a major factor. With Gary Gensler no longer at the helm, there’s growing speculation that crypto ETFs may finally get a fair shot.

On February 6, the SEC invited public comments on the filings, opening a 21-day window for feedback. While this doesn’t guarantee approval, it signals a major shift from the SEC’s previous stance—where Solana was often categorized as a security.

Wall Street is Taking Notes

Bloomberg ETF analyst James Seyffart called this move “noteworthy,” given the SEC’s previous refusal to even entertain a Solana ETF.

Even more telling, Fox Business journalist Eleanor Terrett pointed out that the SEC previously pressured the Cboe (Chicago Board Options Exchange) to withdraw Solana ETF applications while Gensler was in charge.

Now, with the SEC acknowledging filings instead of blocking them outright, it’s clear that something has changed.

And it’s not just Solana.

The SEC also acknowledged the NYSE’s application for a Grayscale Litecoin ETF—the second time the regulator has considered a Litecoin spot ETF. Analysts are predicting that LTC could be the next digital asset to get SEC approval.

Will Solana ETFs Actually Get Approved?

This latest development comes as firms like Bitwise, VanEck, 21Shares, and Canary Capital have refiled Solana ETF applications.

While approval is far from guaranteed, ETF analysts estimate the SEC’s final decision will arrive around October 11.

Bloomberg’s Eric Balchunas called it a “small but important step,” emphasizing that this is the first time the SEC has engaged with a financial product linked to an asset it previously labeled as a security.

Meanwhile, the SEC also moved forward with the iShares Bitcoin Trust ETF (IBIT), acknowledging a Nasdaq filing related to in-kind creations and redemptions.

Nate Geraci, president of The ETF Store, welcomed the move but criticized the SEC for taking so long to act.

A New Crypto Era Under Trump?

While the SEC’s leadership under Trump remains an open question, there’s growing optimism in the market that a pro-crypto regulatory shift is underway.

If this trend continues, crypto ETFs could see unprecedented approvals in 2024-2025, unlocking billions in institutional investment.

For now, investors are watching closely—because if the SEC does approve a Solana ETF, it could be the biggest regulatory win for crypto since the Bitcoin ETF approvals in January.