The U.S. Securities and Exchange Commission has told prospective issuers of spot Solana exchange-traded funds to amend and resubmit their S-1 registrations by 31 July, compressing a review period that could otherwise run until 10 October. People familiar with the matter said the agency wants to prevent any single issuer from gaining a first-mover advantage after Rex Shares’ SOL and Staking ETF (SSK) entered the market last week through an automatic approval process. Applicants have been asked to clarify in-kind creation and redemption mechanics and to incorporate staking language, indicating the watchdog’s willingness to consider limited on-chain activity within the funds. If approved, Solana would become the third cryptocurrency with a U.S. spot ETF, following bitcoin and ether. Separately on 17 July, Nasdaq filed a revised Rule 19b-4 on behalf of BlackRock seeking permission to add ether staking to the iShares Ethereum Trust, listed under the ticker ETHA. While earlier staking proposals face final deadlines in late October, the BlackRock amendment carries an April 2026 deadline; analysts nonetheless expect a ruling as soon as the fourth quarter of 2025. The two developments underscore the SEC’s push to bring greater parity and clarity to crypto-linked ETFs as it continues to weigh additional products tied to XRP, Dogecoin and Litecoin.