PANews reported on June 11 that according to Blockworks, citing people familiar with the matter, the U.S. SEC has asked the issuer of the proposed spot Solana ETF to update its S-1 prospectus, suggesting that relevant approval may be imminent. Although the specific time of approval is unknown, Eric Balchunas, senior ETF analyst at Bloomberg, predicts that it may be approved within two to four months. In an interview with The Block, he said that spot Solana, XRP and other funds are likely to be approved in the future, or the approval deadline may be in October, and a spot ETF portfolio including Solana, XRP, Ethereum and Bitcoin may appear in July. Issuers are rushing to launch spot ETFs to gain first-mover advantage. Balchunas also said that spot products will emerge in large numbers in the next four months, but on a small scale, and it would be good if Solana and XRP could reach a scale of US$1 billion.