Another day brings yet another significant filing for a cryptocurrency exchange-traded fund (ETF). Canary Capital’s proposed Solana ETF marks the second instance where a similar vehicle has moved closer to approval.

In a recent regulatory filing, the Securities and Exchange Commission (SEC) announced a public comment period for the “Canary Solana Trust,” which aims to facilitate mainstream finance access to SOL investments.

The filing essentially sets the clock for the decision on Canary Capital’s investment vehicle. In 21 days, the SEC will either approve or deny the application or extend the deliberation period.

Market analysts are largely optimistic about the potential approval of SOL and other altcoin ETFs this year, although the timeline remains uncertain. Notably, the SEC’s recent stance appears more favorable under the current leadership compared to the past.

The previous political landscape change, specifically Donald Trump’s return to the White House, has prompted Canary to act with greater ambition, as indicated by CEO Steve McClurg. The firm is now focused on securing altcoin ETFs for previously unattainable assets under the former regime.

Additionally, Grayscale’s Solana ETF filing recently reached a similar stage, meaning its outcome will precede Canary’s by a few days, potentially serving as an indicator for the latter’s fate.

A representative from Canary has not yet provided a comment regarding this development.