PANews reported on June 14 that according to The block, investment companies Franklin Templeton, Galaxy Digital and VanEck submitted updated S-1 documents, and Grayscale also submitted an updated document and disclosed its announcement of charging a 2.5% fee for potential funds. Fidelity also submitted the S-1 document for its Solana fund on Friday. This is the first time Fidelity has submitted an S-1 document for Solana spot ETP.

Earlier this week, the U.S. SEC had approached several potential Solana ETF issuers, asking them to update their S-1 filings. Bloomberg ETF analyst Eric Balchunas said at the time that this indicated that the agency was more likely than before to approve some of these products, which means that the launch time of the spot SOL ETF is about two to four months.