The U.S. Securities and Exchange Commission (SEC) has postponed its decision on the Franklin Templeton application for a Solana-based ETF by an additional 60 days for further assessment.
SEC Delayed Decision on Franklin Templeton Solana ETF
According to the latest filing from the SEC, the decision on the Franklin Templeton Solana ETF application has been delayed for 60 days to evaluate whether the proposed ETF meets listing and trading requirements under CBOE BZX rules. The SEC noted:
> "The Commission finds that it is appropriate to designate a longer period within which to issue an order approving or disapproving the proposed rule change so that it has sufficient time to consider the proposed rule change, and the issues raised therein."
Chronology of SEC Delays
The SEC had previously delayed its decision twice: first on April 29 and again on June 17. During these instances, the commission began proceedings to approve or disapprove the proposed rule for listing as commodity-based trust shares. All other Solana ETF applications have also faced delays from the SEC, with the final approval deadline for the Franklin Templeton ETF set for November 14.
Solana's Financial Metrics and Trader Expectations
The price of Solana has continued its upward trend as PPI inflation eased, trading at $222.75 with a 24-hour low of $214.16 and a high of $225.51. Trading volume decreased by 2%, indicating uncertainty among investors. However, significant buying was noted in the derivatives market, with total SOL futures open interest skyrocketing over 9%. Analysts project potential price increases if momentum continues.
The SEC's decision to delay the Franklin Templeton Solana ETF underscores ongoing market uncertainty, yet Solana's financial performance remains robust, attracting increased trader interest.
