SEC Puts Solana ETF Hopes on Hold Again

by

Will Solana Ever Get Its ETF? The SEC Says, “Not Today!” 😅

The latest delay is like that friend who always says they’ll show up but never does. We’re talking about applications from both 21Shares and Bitwise, which are now under extended review as the SEC decides to open formal proceedings for further evaluation. Because, you know, why rush? ⏳

Bitwise filed its Solana ETF proposal back in January, and then—surprise!—there was an initial delay in March. Meanwhile, 21Shares, which is already playing in the Bitcoin and Ethereum ETF sandbox, is still waiting for the green light on its Solana offering. It’s like being the first to arrive at a party and then realizing it’s a no-show. The SEC’s latest move suggests they might be looking for reasons to say “no,” citing investor protection concerns and their noble duty to prevent market manipulation. Because who needs fun when you can have regulations? 🙄

Oh, and let’s not forget Grayscale’s Solana ETF bid, which also got postponed earlier this month. It’s like a crypto fund approval traffic jam out there! 🚦 While analysts are still optimistic—Bloomberg’s James Seyffart and Eric Balchunas are waving their pom-poms with a 90% chance of Solana ETF approval—the regulatory timelines are stretching into late 2025. Talk about a long wait for a bus that might not even come! 🚌

In the meantime, the launch of Solana futures on CME is like a shiny new toy for institutions looking for a regulated alternative for SOL exposure, while the spot ETF is still stuck in limbo. As of now, Solana is trading just under $165, with prices slightly down on the day—hinting that the broader market hasn’t quite absorbed the news of these ETF delays. 📉

Despite some analysts throwing confetti in celebration, market watchers are still divided on whether approval will arrive anytime soon—or if it’s just a mirage in the desert of crypto dreams. As regulatory friction drags on, the timeline for wider crypto ETF adoption continues to shift like a cat on a hot tin roof. 🐱‍👤

Read More

2025-05-20 03:25