The SEC has delayed its decision on Grayscale’s Solana ETF to October 2025, continuing its trend of postponing crypto ETF rulings.
On Tuesday, May 13, the U.S. Securities and Exchange Commission (SEC) announced its decision to delay the spot Solana SOL $150.7 24h volatility: 2.6% Market cap: $78.04 B Vol. 24h: $3.80 B ETF proposed by Grayscale Investments, pushing the next decision deadline to October 2025.
This move comes amid growing demand for crypto ETFs during Donald Trump’s crypto-friendly presidency. As a result, investors are now speculating whether the pending XRP XRP $2.22 24h volatility: 0.8% Market cap: $129.99 B Vol. 24h: $2.17 B , Dogecoin DOGE $0.18 24h volatility: 5.1% Market cap: $27.07 B Vol. 24h: $1.05 B , and Polkadot DOT $4.22 24h volatility: 2.3% Market cap: $6.42 B Vol. 24h: $134.77 M ETF proposals, due for review next month in June, will face similar delays.
The SEC’s decision to postpone the Solana ETF follows its recent delay of Canary Capital’s Litecoin ETF application. Under the leadership of Paul Atkins, the SEC has yet to make a decisive breakthrough in the approval of crypto ETF products.
Why Solana ETF Approval Matters for the Ecosystem
Spot crypto ETFs play an important role as they drive institutional adoption and liquidity across the market. For instance, the launch of the spot Bitcoin BTC $96 611 24h volatility: 2.1% Market cap: $1.92 T Vol. 24h: $29.09 B ETF marked a watershed moment for the crypto industry, drawing billions of dollars in inflows within its first year.
While Solana ETFs may attract smaller capital flows compared to Bitcoin ETFs, they could still be pivotal in encouraging institutional involvement within the Solana ecosystem over time.
By offering a regulatory-compliant investment vehicle, these ETFs have the potential to direct significant capital into the Solana network, bolstering its credibility and standing within traditional financial markets.
Despite the ongoing delay by the US SEC, market analysts remain optimistic that spot Solana ETFs could receive approval by the end of the year. According to the decentralized betting platform Polymarket, there is currently an 82% probability of approval for the Solana ETFs by December 31.
Meanwhile, Solana’s price has responded positively, mirroring broader crypto market trends. It has surged by 3.52% today, climbing to the $180 mark.
What’s in Store for XRP ETF, DOGE ETF, Polkadot Next?
Next month in June, three major crypto ETFs are approaching their deadline. The SEC is scheduled to rule on Grayscale’s Polkadot ETF, currently priced at $5.07, by June 11, and 21Shares’ Polkadot ETF by June 24, as stated in a recent court filing.
On June 17, decisions are expected regarding Franklin Templeton’s spot XRP ETF, valued at $2.59, and Bitwise’s spot Dogecoin ETF, priced at $0.237, according to official filings.
However, these rulings may face delays, as the SEC often utilizes the full 240-day review period for crypto-related financial products.
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