SEC Puts Solana ETF Hopes on Hold Again
The latest delay affects applications from both 21Shares and Bitwise, which remain under extended review as the SEC opens formal proceedings for further evaluation.
Bitwise filed its Solana ETF proposal in January, followed by an initial delay in March. 21Sharesalready active in the Bitcoin and Ethereum ETF spacehas yet to secure regulatory approval for its Solana offering despite being one of the earliest filers. The SECs latest move signals it is considering grounds for potential rejection, citing investor protection concerns and its obligation to prevent market manipulation.
Grayscales Solana ETF Exchange-traded Fund
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Meanwhile, the launch of Solana futures on CME offers institutions a regulated alternative for SOL exposure, even as the spot ETF lingers in limbo. At the time of writing, Solana trades just under $165, with prices slightly down on the dayhinting that the broader market hasnt fully priced in ETF delays.
Despite positive sentiment from parts of the analyst community, market watchers remain divided on whether approval will arrive anytime soonor at all. As regulatory friction drags on, the timeline for wider crypto ETF adoption continues to shift.
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Text source: Coindoo
