SEC has acknowledged Grayscale’s filing for a Solana (SOL) ETF, marking a shift in the Commission’s stance on cryptocurrency-related ETFs. This development&nbsp; means the SEC now has until October to decide whether to approve or reject the application.
Previously, the SEC had rejected several applications for ETFs tracking Solana and had ordered Cboe to withdraw previously submitted 19b-4s for those ETFs. 
According to Eric Balchunas, senior ETF analyst at Bloomberg Intelligence, the move to recognize Grayscale’s filing is considered noteworthy.&nbsp; It is the first time the SEC has acknowledged an ETF filing for a cryptocurrency that was previously classified as a “security.” In an <a href="https://x.com/EricBalchunas/status/1887623284692271554" rel="noopener noreferrer nofollow" target="_blank">X post</a> he noted:&nbsp;
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 We are now in new territory, albeit just a baby step, but seemingly the direct result of leadership change. <cite>Eric Balchunas</cite>
</blockquote>
<h3 class="wp-block-heading" id="span-style-font-weight-400-sec-acknowledges-multiple-crypto-etf-filings-as-firms-submit-proposals-span">SEC acknowledges multiple crypto ETF filings as firms submit proposals</h3>
On Thursday, the SEC also acknowledged several other crypto ETF applications, including Grayscale’s filing for a Litecoin (LTC) ETF and BlackRock’s proposal to enable in-kind creations and redemptions for its iShares Bitcoin ETF.
Later in the US evening, Cboe submitted filings to list and trade shares of four ETFs designed to track the price of XRP (XRP).
On Thursday, the exchange submitted four 19b-4 filings to the SEC for potential ETFs from Bitwise, 21Shares, Canary Capital, and WisdomTree. These issuers had already filed S-1s, the initial step in launching an ETF.&nbsp;
The latest steps indicate that businesses feel more at ease with the current SEC administration expanding beyond Bitcoin and Ether ETF products, even if they do not necessarily mean that the SEC will approve all of these products.
<h3 class="wp-block-heading" id="span-style-font-weight-400-sec-opens-public-comment-period-on-grayscale-s-litecoin-etf-proposal-span">SEC opens public comment period on Grayscale’s Litecoin ETF proposal</h3>
The SEC has also initiated a <a href="https://www.sec.gov/files/rules/sro/nysearca/2025/34-102367.pdf" rel="noopener noreferrer nofollow" target="_blank">public comment</a> period on Grayscale’s Litecoin Trust’s proposed conversion into an ETF. The agency has acknowledged NYSE Arca’s filing and is inviting comments to be submitted within 21 days of the proposal’s publication in the Federal Register. The agency could decide to approve, disapprove, or “institute proceedings.”
NYSE Arca posted a 19b-4 filing a few weeks ago for the “Grayscale Litecoin Trust ” and a “Grayscale Solana Trust.” A 19b-4 filing is the second part of a two-step process for proposing a spot crypto ETF. Once the SEC acknowledges the filing, it will be published in the Federal Register, initiating the agency’s approval process.
In recent weeks, firms have flooded the market with proposals for funds based on DOGE and other altcoins, likely hoping that the SEC’s leadership change would create a more favorable environment for approving crypto ETFs.
After the former crypto-skeptic SEC Chair Gary Gensler’s exit last month, the agency’s acting Chair, Mark Uyeda, picked fellow Republican Commissioner Hester Peirce to lead a crypto task force.
Peirce has stated that she intends to focus on clarifying which “crypto assets” qualify as securities. This could potentially change the ways firms register and work on providing clear statements when approving or disapproving exchange-traded products.
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SEC acknowledges Grayscale’s Solana 19b-4 filing, breaking previous rejections

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