The latest delay affects applications from both 21Shares and Bitwise, which remain under extended review as the SEC opens formal proceedings for further evaluation.

Bitwise filed its Solana ETF proposal in January, followed by an initial delay in March. 21Shares—already active in the Bitcoin and Ethereum ETF space—has yet to secure regulatory approval for its Solana offering despite being one of the earliest filers. The SEC’s latest move signals it is considering grounds for potential rejection, citing investor protection concerns and its obligation to prevent market manipulation.

Grayscale’s Solana ETF bid was also postponed earlier this month, underscoring a wider slowdown in crypto fund approvals. While analysts remain upbeat—Bloomberg’s James Seyffart and Eric Balchunas still estimate a 90% chance of Solana ETF approval—regulatory timelines continue to stretch into late 2025, dampening short-term optimism.

Meanwhile, the launch of Solana futures on CME offers institutions a regulated alternative for SOL exposure, even as the spot ETF lingers in limbo. At the time of writing, Solana trades just under $165, with prices slightly down on the day—hinting that the broader market hasn’t fully priced in ETF delays.

Despite positive sentiment from parts of the analyst community, market watchers remain divided on whether approval will arrive anytime soon—or at all. As regulatory friction drags on, the timeline for wider crypto ETF adoption continues to shift.

The post SEC Puts Solana ETF Hopes on Hold Again appeared first on Coindoo.

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Filed under: Bitcoin - @ May 19, 2025 11:44 pm