- SEC Delay: The SEC has postponed decisions on spot Solana ETFs from 21Shares and Bitwise, citing concerns over investor protection and market manipulation.
- Wider Slowdown: Grayscale’s Solana ETF was also delayed, with regulatory timelines now extending into late 2025 despite analysts estimating a 90% approval chance.
- Institutional Alternatives: While spot ETFs stall, CME’s Solana futures provide a regulated option for institutional SOL exposure.
The U.S. Securities and Exchange Commission (SEC) has once again pushed back its decision on spot Solana ETFs, adding more uncertainty to the crypto investment landscape. This latest delay impacts proposals from both 21Shares and Bitwise, both of which are now under extended review as the SEC launches formal proceedings for further evaluation.
Ongoing Delays and Potential Rejection
Bitwise first filed its Solana ETF proposal in January, facing an initial delay in March. 21Shares, already active with Bitcoin and Ethereum ETFs, has yet to gain regulatory approval for its Solana product, despite being one of the earliest applicants. The SEC’s latest move suggests it’s weighing potential rejection, citing concerns about investor protection and market manipulation.
Broader Slowdown in Crypto ETF Approvals
Grayscale’s Solana ETF bid was also postponed earlier this month, highlighting a broader slowdown in crypto fund approvals. Despite Bloomberg analysts estimating a 90% chance of approval for Solana ETFs, regulatory timelines now stretch into late 2025, dampening short-term optimism.
Institutional Alternatives: Solana Futures
While spot ETFs linger in regulatory limbo, the CME has launched Solana futures, offering institutions a regulated way to gain SOL exposure. Meanwhile, Solana is trading just below $165, with market sentiment mixed as ETF uncertainty persists. Analysts remain divided on whether ETF approval is imminent or if the regulatory friction will continue to stall progress.
