The U.S. Securities and Exchange Commission (SEC) has once again delayed the approval of a Solana (SOL) ETF proposed by investment firm Fidelity.
Fidelity's Filing
Fidelity filed its S-1 registration statement with the SEC on June 13, adding to a long list of pending ETF approvals based on various cryptocurrencies.
Unconventional ETF Structure by REX-Osprey
Recently, REX-Osprey launched a Solana ETF that includes staking capabilities and utilizes an unorthodox structure, allowing it to sidestep the typical approval process for spot ETFs.
Expectations for ETF Approval
According to a recent report by Reuters, there is a possibility that Solana ETFs may be approved sooner than other offerings. However, a final decision may not come until fall, as the agency is working on new guidance to streamline the ETF approval process.
Expectations for the approval of Fidelity's Solana ETF remain high, but investors may need to be patient until fall, when new SEC guidelines may emerge.
