1 month ago
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The U.S. Securities and Exchange Commission (SEC) has delayed its decision on five Solana (SOL) exchange-traded funds (ETFs). Among them are applications made by industry heavyweights like VanEck, Bitwise, 21Shares, Canary Capital, and Fidelity.
The first deadline for some of these proposals was April 4. The SEC in March extended the review period, and the next decision date was set to May 19. On that day, the SEC again did not approve or reject the filings. It instead asked for further public comments.
The delay affects all five proposals, including the Fidelity Solana Fund. That filing was expected to get a response by May 24, but the SEC has now set a new deadline of July 8.
This isn’t the first time the SEC has postponed decisions on crypto-related ETFs. Similar delays have affected Grayscale’s Solana ETF proposal and applications tied to XRP, Litecoin, and Dogecoin. The trend suggests a cautious stance from regulators despite a more crypto-friendly government.
The news has also impacted market sentiment. On prediction platform Polymarket, the odds of a Solana ETF approval by July 31 have dropped to just 16%. However, long-term expectations remain positive, with 85% odds for approval by December.
Notably, Solana’s value hasn’t suffered as a result. Rather, SOL gained 2.7% over the last 24 hours, trading at approximately $169 when published.
The crypto community now awaits the next update, scheduled for July.
English (US) · 