New Generation of Crypto ETFs Edge Closer After SEC Scrutiny

US regulators have asked Wall Street firms racing to launch Solana exchange-traded funds to revise their paperwork, a sign that the novel crypto investment products may be available to investors soon.

At least three asset managers have been asked to amend their US Securities and Exchange Commissionfilings to address two key features of the funds that track the world’s sixth-largest cryptocurrency. At issue are how funds will handle crypto redemptions and whether they plan to allow investors to earn rewards by pledging Solana tokens to help validate blockchain transactions, a process known as staking.

The outreach suggests the ...