Industry leaders had previously expressed optimism regarding the likelihood of approval for spot Solana ETFs,. According to ETF Store President Nate Geraci, it’s highly likely that Solana ETFs will be approved by the end of next year at the latest.

Among the proposals were four Solana ETF applications from VanEck, 21Shares, Bitwise Asset Management, and Canary Capital filed with equity exchange Cboe BZX on Thursday. This comes at a time when the U.S. Securities and Exchange Commission has actively started reviewing the S-1 applications, showing signs of development in regulatory territory.