The U.S. Securities and Exchange Commission has delayed its decision on Fidelity Investments' Solana ETF, reflecting ongoing scrutiny over crypto investments.
The Application Process
Fidelity Investments submitted its application for a spot Solana ETF on June 13, 2025, via Cboe BZX Exchange. The SEC's recent update announced a new review period requiring amendments with clear risk explanations, impacting several applicants, including Fidelity.
Market Impact
This decision impacts institutional flows into Solana and related crypto sectors. The SEC's pause may slow liquidity into Solana platforms but maintains attention on Fidelity's application against alternatives like REX-Osprey's recently approved ETF.
Regulatory Stance and Market Reactions
Analysts observe that delayed crypto ETF approvals often foretell sudden market reactions when greenlighted. The SEC's current approach, including shorter amendment deadlines, indicates a nuanced regulatory stance.
The SEC continues to approach spot crypto ETF evaluations cautiously, and current delays may impact market trends in the near future.
