The U.S. Securities and Exchange Commission (SEC) has postponed a decision on a proposed Solana ETF, shifting the crypto community's attention to the upcoming deadlines for Polkadot and XRP funds.
Postponed SEC Decision on Solana ETF
As of May 13, the SEC has delayed decisions on listing Grayscale's Solana Trust ETF on the New York Stock Exchange. The SEC typically postpones ETF decisions in increments of 45, 60, or 90 days, up to a maximum of 240 days, so a final decision is anticipated by late 2024 or early 2025.
Outlook for Solana ETF and Other Cryptocurrencies
While the Solana ETF may only attract a fraction of the volumes that Bitcoin ETFs have received, it has the potential to increase institutional adoption of Solana over the long term. Some investors remain optimistic about approval of the Solana ETF before the end of 2025.
Upcoming Deadlines for Other ETFs
The SEC is set to decide on Grayscale's Polkadot ETF by June 11 and 21Shares' Polkadot ETF by June 24. A decision on the Franklin Templeton spot XRP ETF and Bitwise spot Dogecoin ETF is expected on June 17. These decisions could also experience delays.
With the delay in the Solana ETF decision, investor interest shifts to upcoming SEC decisions on other crypto funds, highlighting the importance of regulation in the crypto industry.
