SEC delays the decision on Solana ETF applications

The US Securities and Exchange Commission delayed its decision on four proposed Solanes Exchanged Fonds, including submissions from Body, 21Shares, Vanets and Canary.

Announcement, Deli 19. May submissionIndicates that the Agency will “initiate proceedings” to assess whether the ETF proposals meet regulatory standards. This procedural move allows Dec to expand the review period and open the public comment window.

The Agency emphasized that the institution of the procedure “does not indicate that the Commission has reached any conclusions” on submitting applications. Instead, SEC says it takes more time to examine proposals under the requirements of the law on securities requirements, especially provisions relating to prevention and protection against investors.

Among the delayed submission submissions is a significant solaane (Salt) ETF, which was the first submit In January through CBOE BZX Exchange. The Beat Fund would maintain salt directly, with prices with CME CF Solana-Dollar dollar. Similarly, 21Shares, already known for its Bitcoin agreement (Btc) and Etherum (El) ETFS, submitted its own proposal of Solana at the beginning of this year.

Despite the growing demand, Altcoin ETFs are not authorized in the United States associated with Solan. Ozgoj is a cautious approach to growing investment products based on crypts, especially for property not Bitcoin and Etherum, is reflected in the delays.

SEC is estimated whether proposals in accordance with Article 6 (B) (5) (5) (5), requiring that these products are located on “Protect investors and public interest” and “prevent false and manipulative acts and practices”.

The delay also comes in the middle of a wider regulatory bottleneck for the ETFS digital means. Several submissions for additional CryptoCurrency ETFS, including those for Doglucoin (Exaggerate) and XRP (XRP), they are still examined. James Seiffart and Eric Balchunas, Bloomberg ETF Analysts, remain hope.

They estimate 90% chance for the approval of Solana and Litecoin ETF by the end of 2025. year, referring to favorable classifications of goods and establishing institutional demand. But the future is still unclear. Investors can be left in Limbo if the SEC request for public entry is caused by the time frame to extend.