# SEC Taking a Closer Look at Solana ETF Applications

*Author: Kazu Umemoto*
*Published: Nov 21, 2024*
*Source: https://www.bankless.com/de/read/sec-solana-etf-applications*

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The U.S. Securities and Exchange Commission (SEC) is now actively engaging with issuers on spot [Solana ETF applications](https://www.theblock.co/post/327629/sec-is-engaging-solana-etf-applicants-report), per reporting by Eleanor Terrett of Fox News.

## **What’s the scoop?**
- **Similar Faces**: VanEck, 21Shares, and Bitwise are spearheading efforts for a Solana ETF, with Bitwise recently registering in Delaware for positioning here. These firms bring substantial ETF application experience, which boosts confidence in the eventual approval prospects for a Solana ETF.

## **Bankless take:**
The SEC's engagement with Solana ETF applications signals growing acceptance of diversified crypto ETF products beyond Bitcoin and Ethereum. While optimism runs high, a timeline for approval remains uncertain, and the transition to a more crypto-friendly administration in 2025 could be pivotal. 

As for Solana, a potential ETF underscores its momentum as a rising crypto consumer powerhouse. And if a Solana ETF *does *arrive in the near future, the floodgates would be opened for other crypto ETFs to follow suit after that.
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