US SEC Delays Decision on Solana ETF — Will It Finally Get Approved?

Updated

May 20, 2025

Gambar US SEC Delays Decision on Solana ETF — Will It Finally Get Approved?

Jakarta, Pintu News – A recent announcement from the United States Securities and Exchange Commission (SEC) has delayed a decision regarding the Solana ETF applications filed by 21Shares and Bitwise. This delay adds to the uncertainty in the broader crypto ecosystem, especially with regards to ETF efforts from various asset managers.

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SEC Delay and Impact on Solana ETFs

The SEC has initiated procedures on two filings from 21Shares and Bitwise, signaling the start of a new phase in the evaluation of these financial products.

This process aims to conduct additional analysis of the proposed rule changes and their consistency with Section 6(b)(5) of the Act, which requires that the rules of a national securities exchange should be designed to prevent manipulative and fraudulent acts and practices.

This delay is not the first, as the SEC has previously delayed a decision on a similar product from Grayscale. This reflects the SEC’s very cautious approach to ETFs based on cryptocurrencies, which are still considered new and risky territory in the financial world.

Also read: 3 Potential Crypto Traders’ Favorite Altcoins

Market Optimism for Crypto ETFs

Despite the ongoing delays, analysts from Bloomberg, James Seyffart and Eric Balchunas, remain optimistic about the chances of a Solana ETF approval, with the probability reaching 90%. An ETF for Litecoin also has a similar high probability due to the classification of Litecoin and Solana as commodities by the SEC and CFTC.

Meanwhile, an ETF for Ripple has an 85% chance of approval, followed by Dogecoin and Cardano with 80% and 75% chances respectively. Despite the slow pace of the regulatory process, many market participants remain hopeful of final approval which is expected to happen around the end of 2025.

Also read: Controversy over Ripple CEO’s Cancellation of Meeting with Pro-Bitcoin Senator, What’s Up?

Solana Futures ETF and SOL Price Outlook

CME Group’s launch of the Solana futures contract is an important step. Although approval for a spot ETF is still pending, this product provides a regulated tool to hedge or gain exposure to Solana (SOL) price movements. Recent data from CoinMarketCap shows that the Solana price is at $164.98, a decrease of 1.28%.

The slightly oversold condition of the RSI, which stands at 55, indicates a possible rebound in the medium term. However, the delay by the SEC may hamper the potential recovery of Solana (SOL) price in the market.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

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