SEC delays Solana ETF as decisions for Polkadot, XRP loom
The US Securities and Exchange Commission (SEC) has delayed its decision on Grayscale’s proposed spot Solana exchange-traded fund (ETF) until October 2025. This follows a similar delay for Canary Capital’s Litecoin ETF. Spot ETFs are crucial for enhancing liquidity and institutional adoption of digital assets. While a Solana ETF may attract less investment than Bitcoin ETFs, it could still promote long-term institutional interest. Investors currently estimate an 82% chance of SOL ETF approval and an 80% chance for Litecoin ETF approval by year-end. The SEC is also set to decide on several other crypto ETFs in June, including Grayscale’s Polkadot ETF and Franklin Templeton’s XRP ETF, but these decisions may face delays as the SEC often utilizes its full review period.
