SEC Delays Solana ETF Decision as SOL Rebounds: What to Know
Entering 2025, all eyes were on what crypto-based ETFs could find approval throughout the course of the year. With a revamped US Securities and Exchange Commission (SEC), many had expectations of a new investment vehicle getting the green light. However, that process has not gotten off to the best start, as the SEC reveals a delay to the ongoing Solana ETF decision.
That has not seemingly affected the movement of SOL, however. Over the last 24 hours, the crypto has jumped more than 2%, according to CoinMarketCap. Additionally, it had surged to beyond the $170 level before quickly retreating. That has given many hope that the asset could make good on a run in the near term. The question is, can a Solana ETF approval help it to skyrocket at some point this year?
Also Read: SOL Strategies Purchases 122,524 Solana (SOL) worth $20 Million
Solana ETF Decision Gets a Delay by SEC: What Does That Mean for SOL?
Last year, the cryptocurrency market saw both Bitcoin and Ethereum get spot ETF products approved. It was a shocking turn of events amid what was a clearly anti-crypto administration. What was all the more shocking was how well they performed, with the BTC ETF products playing a major part in its eventual surge to a $109,000 all-time high.
As the calendar turned, many expected a similar development this year. Moreover, they projected a host of assets to be up for consideration in such a development. Yet, one of the top options will have to wait, as the SEC has issued a delay for its Solana ETF decision.
Also Read: CME Group to Officially Launch Solana (SOL) Futures
The agency announced an extended deadline for the fund around the SOL crypto token. Specifically, it noted that more time was needed in regard to the applications from 21Shares, Bitwise, VanEck, and Canary Capital.
“Institution of proceedings does not indicate that the commission has reached any conclusions with respect to any of the issues involved,” the SEC said in a press release. “The Commission seeks and encourages interested persons to provide comments on the proposed rule change.”
Many experts have noted that the move was expected. Speaking to Decrypt, Bitwise Asset Management CFA Juan Leon discussed the deadline change. “People were expecting [the Commission] to just green light everything as soon as the application got put in; that isn’t how the process works.”
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SEC Delays Solana ETF Decision as SOL Rebounds: What to Know
Entering 2025, all eyes were on what crypto-based ETFs could find approval throughout the course of the year. With a revamped US Securities and Exchange Commission (SEC), many had expectations of a new investment vehicle getting the green light. However, that process has not gotten off to the best start, as the SEC reveals a delay to the ongoing Solana ETF decision.
That has not seemingly affected the movement of SOL, however. Over the last 24 hours, the crypto has jumped more than 2%, according to CoinMarketCap. Additionally, it had surged to beyond the $170 level before quickly retreating. That has given many hope that the asset could make good on a run in the near term. The question is, can a Solana ETF approval help it to skyrocket at some point this year?
Also Read: SOL Strategies Purchases 122,524 Solana (SOL) worth $20 Million
Solana ETF Decision Gets a Delay by SEC: What Does That Mean for SOL?
Last year, the cryptocurrency market saw both Bitcoin and Ethereum get spot ETF products approved. It was a shocking turn of events amid what was a clearly anti-crypto administration. What was all the more shocking was how well they performed, with the BTC ETF products playing a major part in its eventual surge to a $109,000 all-time high.
As the calendar turned, many expected a similar development this year. Moreover, they projected a host of assets to be up for consideration in such a development. Yet, one of the top options will have to wait, as the SEC has issued a delay for its Solana ETF decision.
Also Read: CME Group to Officially Launch Solana (SOL) Futures
The agency announced an extended deadline for the fund around the SOL crypto token. Specifically, it noted that more time was needed in regard to the applications from 21Shares, Bitwise, VanEck, and Canary Capital.
“Institution of proceedings does not indicate that the commission has reached any conclusions with respect to any of the issues involved,” the SEC said in a press release. “The Commission seeks and encourages interested persons to provide comments on the proposed rule change.”
Many experts have noted that the move was expected. Speaking to Decrypt, Bitwise Asset Management CFA Juan Leon discussed the deadline change. “People were expecting [the Commission] to just green light everything as soon as the application got put in; that isn’t how the process works.”
Read More