The SEC has historically taken a cautious approach to cryptocurrency ETFs, prioritizing investor protection and regulatory compliance. However, the recent approval of bitcoin spot ETFs has opened the door for other cryptocurrencies such as Solana and XRP to follow suit.

Several investment products linked to Solana are already available, including Grayscale's Solana Trust (GSOL) and VanEck's Solana ETP (VSOL), which can be accessed in select regions.