Several fund managers have responded to the United States Securities and Exchange Commission (SEC) request by submitting amended Form S-1 for their spot **Solana (SOL)** ETFs. All fund managers interested in offering spot **Solana ETFs** filed amended Form S-1 on Friday.
Among the top fund managers in the United States seeking to offer spot **Solana ETFs** are **Franklin Templeton**, **Fidelity**, **VanEck**, **Bitwise**, and **Grayscale Investments**. The U.S. SEC is expected to review the Form S-1 within the next 30 days, potentially paving the way for an altcoin ETF summer in the coming months.
Polymarket users are predicting a 91 percent chance of the U.S. SEC approving **Solana ETFs** by the end of 2025.
**Market Impact on Solana and its Altcoins**
The **Solana network** has experienced significant growth over the past year to enhance its throughput and promote the mainstream adoption of web3. The anticipated approval of spot **Solana ETFs** in the U.S. will introduce substantial competition to **Ethereum** (ETH) dominance in the crypto market.
Moreover, the **Solana network** has already attracted numerous companies that are using **SOL** as a treasury management tool. For example, **SOL Strategies Inc.** (CSE: HODL) currently holds over 420k **Solana** coins for treasury management purposes.
The increasing adoption of **Solana** by institutional investors is expected to trigger a significant bull rally by the end of this year. According to **Matt Hougan**, CIO at **Bitwise**, the broader cryptocurrency market is currently in an accumulation phase, gearing up for a substantial rally by the end of the year.
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