XRP News Today: SEC Delays Solana ETF Decision to October 2025

The US Securities and Exchange Commission (SEC) has delayed its decision on a proposed spot Solana exchange-traded fund (ETF), shifting the focus of the cryptocurrency industry to the upcoming deadlines for Polkadot and XRP-based ETFs in June. The SEC extended its decision on listing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, as indicated in a May 13 filing by the securities regulator. This delay follows a similar postponement of the SEC's ruling on Canary Capital’s Litecoin (LTC) ETF the previous week.

Spot ETFs are considered crucial for driving liquidity and institutional adoption of digital assets. For instance, US spot Bitcoin ETFs accounted for an estimated 75% of new investment after their launch, which aided Bitcoin (BTC) in recapturing the $50,000 mark in February 2024, just a month after the ETFs began trading. While a Solana ETF may not attract the same level of inflows as Bitcoin ETFs, it could significantly boost Solana’s institutional adoption over the long term by providing investors with a regulated investment vehicle. This could potentially attract billions of dollars in capital, according to Ryan Lee, chief analyst at Bitget Research.

Despite the recent delay by the SEC, a majority of investors remain optimistic about the approval of a SOL ETF by the end of 2025. According to data from Polymarket, the largest decentralized betting platform, investors are predicting an 82% chance for a SOL ETF approval and an 80% chance for a Litecoin ETF approval before the end of the year.

Several other crypto ETF applications are also approaching SEC deadlines in June. The SEC is scheduled to decide on Grayscale’s Polkadot (DOT) ETF by June 11 and 21Shares’ Polkadot ETF on June 24. Additionally, the SEC is set to make a decision on Franklin Templeton’s spot XRP (XRP) ETF and Bitwise’s spot Dogecoin (DOGE) ETF on June 17. However, these decisions may also be delayed, as the SEC typically utilizes its full 240-day review period when evaluating crypto-related financial products, as observed in its handling of Bitcoin and Ether (ETH) ETF applications in 2023 and 2024.