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The U.S. Securities and Exchange Commission may approve a spot Solana exchange-traded fund within the next few months, according to multiple sources cited by Blockworks. The SEC has reportedly asked prospective Solana ( SOL ) ETF issuers to submit amended S-1 registration statements by next week. One source suggested an approval could arrive within three to five weeks. Two sources told Blockworks the agency will provide comments on the updated filings within 30 days. The changes focus on two key areas: how issuers plan to handle in-kind redemptions and whether staking will be incorporated into the ETF structure. Notably, the SEC is said to be open to allowing staking as part of these products. Bloomberg Intelligence analyst James Seyffart commented that approval could come as early as July, though the final deadlines for SEC decisions, based on the 240-day review period, extend to October. Seyffart said the agency may now be prioritizing 19b-4 filings related to Solana and staking ETFs sooner than originally expected. Several asset managers are lining up to offer a Solana ETF, including VanEck, Bitwise, Fidelity, Grayscale, Franklin Templeton, Canary Capital, and 21Shares. Grayscale is aiming to convert its existing SOL Trust into a spot ETF, following the blueprint it used for its Bitcoin ( BTC ) and Ethereum ( ETH ) products. The SEC formally acknowledged Grayscale’s Solana ETF proposal in February, a significant shift given its past resistance to such filings. While the SEC delayed its decision on Grayscale’s Solana ETF in May, it stated it had not yet reached any conclusions. The delay was seen as procedural rather than a rejection. Market observers took that as a positive sign, particularly after CME launched SOL futures in February, mirroring steps taken ahead of Bitcoin and Ethereum ETF approvals. CME’s launch of SOL futures has already led to the introduction of SOL futures ETFs, including two from Volatility Shares . Following the historic approval of spot Bitcoin ETFs in January 2024 and Ethereum ETFs in May 2025, attention has now turned to other top digital assets like Solana. The very existence of futures markets often paves the way for spot ETF approval, as seen with BTC and ETH.

Solana-based memecoin launchpad and trading platform Pump.fun’s total SOL deposits to Kraken amount to over $660 million: Is this a massive profit cash out or liquidity play? According to on-chain data , Solana-based memecoin generator Pump.fun quietly moved 132,180 Solana ( SOL ), worth approximately $20.87 million, to Kraken on June 10, sparking speculation about its established pattern of revenue withdrawals to the centralized crypto exchange. The latest transfer brings Pump.fun’s total SOL deposits to Kraken this year to 2,476,697 SOL, valued at $404.64 million. So far, the memecoin launchpad has deposited 3.62 million SOL (about $660.5 million) to Kraken at $182, and sold 264,373 SOL for 41.64 million USDC at $158, according to on-chain analytics platform Lookonchain. With only 3,610 SOL, valued at approximately $570,000, left in its fee account as of press time, Pump.fun’s SOL holdings have dropped to a fraction of earlier levels. This points to either aggressive profit-taking or a strategic shift in capital allocation. The repeated large-scale SOL transfers suggest that Pump.fun is either cashing out significant profits or preparing liquidity in advance of its rumored $1 billion token sale. According to a June 3 report by Blockworks , the sale is expected to happen within two weeks at a $4 billion valuation, citing anonymous sources. Pump.fun has yet to confirm or deny the token sale on its official channels. Community reactions have been mixed, with critics questioning how the launchpad would deploy the funds. DefiLlama developer 0xngmi implied that the sale might be unnecessary. why does pump need to raise 1bn tho? how is it gonna invest that for growth if it already has made 675m and hasnt spent that either what are they planning to do with 1bn? The developments follow a steep decline in Pump.fun’s monthly revenues. According to DefiLlama data , the Solana-based memecoin launchpad generated $46.6 million in revenue in May. This figure represents a 66 percent drop from January’s $137 million, underscoring a dwindle in peak activity. The timing and scale of the SOL movements suggest that Pump.fun may be reevaluating its capital strategy in response to shifting market conditions and weakening revenue. Whether this indicates an aggressive selloff, a liquidity raise ahead of the rumored token launch, or a shift toward reinvestment remains unclear.

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Solana ETFs will send SOL to all time highs

According to Bloomberg analyst James Seyffart, several firms have filed and received acknowledgment for spot crypto ETF applications with the U.S. SEC. Approval odds are highest for Litecoin, Solana, and crypto basket products at 90%, followed by XRP at 85%, Dogecoin at 80%, and