Solana ETF Faces Uncertainty as SEC Delays Decision on Proposals
The urge to launch a Solana ETF listed in the USA has hit another roadblock. The Securities and Exchange Commission (SEC) has postponed its decision on several proposals, adding new uncertainty to the situation. This delay has sparked concerns among investors and industry experts, who are eagerly awaiting the SEC’s verdict on the proposed Solana tracking ETFs.
Summary of the Situation
The SEC has delayed its judgment on several Solana ETF proposals, including those from issuers such as Bittely, 21Shares, and Canary Capital. ETF analysts currently estimate a 95% approval chance, citing positive signs from the dialogue between issuers and the SEC. Despite industry optimism, the final decision remains uncertain, and the SEC may still approve or reject the proposed investment products.
The SEC’s decision to postpone the review of the proposed Solana ETFs has extended the deadline for a judgment by 60 days, until October 16, 2025. This delay is not unprecedented, as the SEC has previously delayed decisions on other crypto-based proposals, such as XRP. The regulatory authority’s decision will have significant implications for the cryptocurrency market and investors.
Solana ETF: Is Approval Likely?
While predicting the SEC’s judgment is challenging, industry optimism is high. Bloomberg ETF analysts James Seyffart and Eric Balchunas have estimated a 95% approval chance, citing productive dialogue between the Commission and issuers. Seyffart commented on the recent delay, stating that ETFs will likely be approved by October, with further setbacks being unlikely.
Several other asset managers, including VanEck, Grayscale, CoinShares, Franklin Templeton, and Fidelity, are also competing to launch Solana ETFs. The SEC recently recognized the latest submission from Invesco Galaxy, adding it to the list of potential issuers. While prospects for a positive judgment are strong, the SEC’s ultimate decision remains uncertain.
For more information on the Solana ETF and the SEC’s decision, visit https://crypto.news/solana-etf-stalls-as-sec-delays-decision-on-proposals/
