Key Points
- The final deadline for the application would reportedly be in October.
- The SEC’s move is a positive sign for anyone facing an active lawsuit, with SOL accused of being a security.
According to the latest reports by Bloomberg’s analyst James Seyffart, the US SEC has acknowledged Grayscale’s 19b-4 Solana filing. This is an important move forward because, under the previous administration, the SEC had refused to process any Solana filings, accusing it of being a security.
Grayscale’s 19b-4 Solana Filing Details
Seyffart’s post reveals the notice of the filing of a Proposed Rule Change to list and trade shares of the Grayscale Solana Trust under the NYSE Arca Rule 8.201-E, Commodity-Based Trust Shares.
Seyffart also noted that the final deadline for this application would be sometime around October 11, 2025.
This is an important move by the SEC under the current Trump administration as it might finally acknowledge that Solana is not a security, as previously accused during the Biden Administration.
SEC Could Acknowledge Solana is Not a Security
Seyffart also shared Bloomberg’s Eric Balchunas’s thoughts on the matter, highlighting the importance of the latest SEC decision regarding Grasycale’s filing.
Balchunas said that the event is notable because this is the first time an ETF filing tracking a coin that had been previously called a “security” has been acknowledged by the SEC.
He mentioned that six weeks ago, the Genz-led SEC had told CBOE to withdraw their Solana 19b-4 filing.
Balchunas concluded that we are now in new territory, and the industry seems to be moving forward under the new Trump administration even if it’s only with baby steps.
Seyffart said that this could be a positive sign for any entity that faces an active lawsuit with the SEC in which the US regulator claims that Solana is a security.
However, he also highlighted that the lawsuits should first be cleared or cleaned up before the SEC can officially approve a Solana ETF.
