Solana News Today: Regulators Sidestep Solana ETFs Again—Focus on 2025

U.S. regulators have pushed back the potential approval of Solana (SOL)-based exchange-traded funds (ETFs) to the final quarter of 2025, signaling continued prudence in evaluating digital asset funds beyond Bitcoin and Ethereum. The U.S. Securities and Exchange Commission (SEC) has deferred action on Grayscale’s Solana ETF application, following a similar delay in the review of a Litecoin ETF just days earlier. These actions highlight the SEC’s tendency to utilize the full 240-day review period for crypto-related products, raising questions about the speed at which the agency can process emerging financial instruments in the fast-evolving crypto space [1].

Despite these delays, optimism remains strong among market participants. Prediction markets like Polymarket continue to show over 80% confidence that both Solana and Litecoin ETFs will receive approval before the end of the year [1]. Analysts note that while Solana ETFs are unlikely to generate the same explosive inflows seen with Bitcoin and Ethereum ETFs—those launched earlier this year drove BTC past $50,000—regulated access could still gradually boost institutional adoption of altcoins. Bitget’s Ryan Lee estimates that even modest inflows could translate into billions of dollars once greenlit [1].

The SEC’s regulatory caution contrasts with growing industry momentum. A cluster of asset managers, including VanEck, Franklin, Grayscale, 21Shares, Fidelity, Bitwise, and CoinShares, recently updated their Solana ETF filings, indicating sustained engagement with the SEC and a willingness to refine their proposals [2]. These updates often included amendments to permit both cash and in-kind redemptions, enhancing flexibility for investors. Bloomberg ETF analyst James Seyffart observed that such revisions “likely indicate positive back and forth between these issuers and the SEC,” suggesting ongoing dialogue and adjustment [2].

The broader crypto ETF landscape is also gaining momentum. According to James Seyffart, the SEC is currently reviewing 96 crypto ETF applications, the largest wave in the market’s history. Solana-based ETFs lead with at least 16 filings, followed closely by XRP with 15. This surge underscores a shift in investor interest toward diversified exposure across a wider range of digital assets. Nate Geraci, an ETF expert, highlighted that approval of these filings could attract significant institutional capital and accelerate the maturation of the crypto market [3].

June is emerging as a pivotal month for regulatory decisions. The SEC is expected to review additional ETF applications tied to Polkadot, XRP, and Dogecoin. However, given the SEC’s recent track record of extending review periods, further delays appear likely. This uncertainty has also impacted market sentiment, particularly for XRP. The odds of a spot XRP ETF approval declined to 62% in early August after SEC Commissioner Caroline Crenshaw reiterated her opposition to crypto ETFs, according to market data [3].

As the regulatory landscape continues to evolve, European markets are making strides in crypto product adoption. Bitwise recently listed five new crypto ETPs on the SIX Swiss Exchange, including products tied to Bitcoin, Ethereum, Solana, and XRP. These ETPs are fully backed by digital assets and feature institutional-grade custody, transparent index methodologies, and physical redemption mechanisms. Bitwise emphasized that Switzerland’s regulatory openness positions it as a key hub for digital assets in Europe [4].

Source:

[1] SEC Delays Solana ETF Decision, All Eyes on June ... (https://cryptodnes.bg/en/sec-delays-solana-etf-decision-all-eyes-on-june-rulings-for-xrp-and-dot/)

[2] Cluster of updated Solana ETF filings shows 'positive back ... (https://www.theblock.co/post/368843/cluster-of-updated-solana-etf-filings-shows-positive-back-and-forth-between-asset-issuers-and-sec)

[3] Solana and XRP Lead Record 96 Crypto ETF Filings (https://finance.yahoo.com/news/solana-xrp-lead-record-96-143049901.html)

[4] Bitwise Launches Bitcoin, Ethereum, Solana, XRP ETPs on ... (https://finance.yahoo.com/news/bitwise-launches-bitcoin-ethereum-solana-235157856.html)