I am recommending the denial of a Solana ETF due to its centralized distribution and network, which relies on just a few set of validators to verify the network. Unlike Bitcoin, Solana was vastly distributed between its creators and venture capitalists before the vast majority of the public gained access to it. Due to this, Solana has been named a security in previous SEC lawsuits. It was not fairly distributed and in addition to this, its network faces frequent outages. I don't believe it is safe for an ETF to be approved for a coin where such a high percent of the supply is not in the hand of retail investors.