XRP News Today: SEC Delays Solana ETF Decision Until July 2025

The U.S. Securities and Exchange Commission (SEC) has delayed its decision on the Solana ETF proposals submitted by Bitwise and 21Shares, as indicated in a recent filing on May 20. This delay follows previous postponements for ETFs linked to Ethereum staking, XRP, and Dogecoin. The SEC has cited the need for additional time to address technical details, legal questions, and investor-protection issues as the reason for the delay.

The extension grants regulators until July 6, 2025, to make a ruling on Bitwise’s proposal for an Ethereum staking ETF. The SEC has stated that this extra time will allow them to thoroughly evaluate the risks and mechanics associated with incorporating staking into a publicly traded fund. A similar timeline is anticipated for Solana-based ETFs proposed by Bitwise and 21Shares, which aim to offer institutional investors regulated exposure to SOL.

Institutional investors seeking direct exposure to alternative assets like Solana continue to encounter obstacles as U.S. regulators assess market risks, volatility, and consumer protection frameworks. The SEC’s recent extensions not only impact the timelines for these products but also signal broader skepticism about the rapid integration of cryptocurrencies into the traditional financial system. While firms like Bitwise and 21Shares have emphasized their commitment to compliance standards and transparency, the inclusion of features like staking, where users earn rewards for securing the blockchain, adds complexity that the SEC appears hesitant to approve without extensive review.

Despite the delays, there is ongoing speculation within the industry that one crypto ETF could receive approval ahead of schedule. Although no specific product has been named, the possibility of a surprise approval keeps industry watchers on alert. The SEC’s extensions suggest that no major breakthroughs in crypto ETF policy are expected before mid-2025, leaving market participants in a holding pattern. The SEC’s latest actions reflect a careful, methodical approach to crypto ETF approval, prioritizing due diligence over market momentum.

In April, more than 70 cryptocurrency ETFs were revealed to be awaiting review by the SEC. The lineup includes a diverse range of digital assets beyond Bitcoin, such as XRP, Litecoin (LTC), Solana (SOL), Dogecoin (DOGE), and various crypto derivatives. Spot ETF applications for XRP and Solana are among the most popular in the current wave, with 10 institutions applying for XRP-based ETFs and six for Solana. These numbers indicate rising institutional interest in diversifying crypto exposure beyond just Bitcoin and Ethereum, reflecting a growing market demand and a shifting regulatory environment in the U.S.