According to FOX Business journalist and producer Eleanor Terrett, Solana (SOL) ETF filings for several institutions have entered the Federal Register. According to Terrett’s X post, the filings include those by Grayscale, Vaneck, Canary Capital, Bitwise, and 21Shares.

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The X post notes that the filings entered the Federal Register on Feb. 18. The journalist says that the development has started a 240-day clock for the SEC. The financial regulator has until Oct. 16 to pass a judgment on the SOL ETF filings.

NEW: $SOL ETF filings for @Grayscale, @vaneck_us, @CanaryFunds, @BitwiseInvest and @21Shares were entered into the Federal Register yesterday on February 18, starting the 240-day clock for the @SECGov to engage and either approve or deny these products on or before October 16. pic.twitter.com/NlMAO7fF9j
— Eleanor Terrett (@EleanorTerrett) February 19, 2025

Will The SEC Approve A Solana ETF?

The SEC approved Bitcoin (BTC) and Ethereum (ETH) ETFs in 2024. The development opened the doors for more crypto-based ETFs in the US. There is a high chance that the SEC will approve an SOL ETF sometime this year.

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According to a report by Bloomberg ETF analysts Eric Balchunas and James Seyffart, there is a 70% chance that the SEC will approve a SOL ETF this year. The duo notes that the financial regulator has acknowledged the 19b-4 filing for the asset. Despite the positive outlook for a SOL ETF, the SEC does not view SOL as a commodity. The SEC not accepting SOL as a commodity could present a barrier to the ETF process. How things unfold is yet to be seen.

NEW: @EricBalchunas and I took a look at the filings for spot crypto ETFs. We're putting out relatively high odds of approval across the board. Mainly focused on Litecoin, Solana, XRP, and Dogecoin for now.

Here's the table with the odds and some other details: pic.twitter.com/xaXaNXLb0M
— James Seyffart (@JSeyff) February 10, 2025

How High Can The Asset Go If An ETF Is Approved?

Let’s assume that Solana’s (SOL) price rises with the same figure as Bitcoin (BTC) after its ETF approval. BTC’s price went from $46,105 on Jan. 10, 2024, to $92,376 on Jan. 10, 2025. The rise in value translates to a rally of nearly 100%. If SOL rallies by 100%, the asset’s price will hit $343.46. Reaching $343.46 would be a new all-time high for SOL.

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There is also a possibility that SOL will not replicate BTC’s movement after an ETF launch. Ethereum (ETH) also had an ETF launch in 2024. Unlike BTC, ETH’s price did not hit a new all-time high. SOL could face a similar trajectory.

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