The US Securities and Exchange Commission (SEC) expanded its revision of two high -profile proposals for Spot Solana (SOL) fair traded funds, and signals further delays in the approval process for crypto -linked investment products.
The agency said it would start with a new procedure round to assess whether the ETF proposals of asset managers Bitwise and 21Shares meet the most important provisions of the Exchange Act Securities.
In particular, the SEC concerns with regard to market manipulation and investor protection, factors that it must weigh before they provide an ETF list.
Waiting for a long time
The application from Bitwise, submitted in January via the BZX exchange of CBOE, and the separate proposal of 21Shares have now been delayed at least once.
Although both companies have experience in offering crypto investment products, 21Shares already manages approved Bitcoin (BTC) and Ethereum (ETH) ETFs. The SEC does not yet have to give permission to Solana, a blockchain that is often advertised as a faster, cheaper alternative to Ethereum.
The supervisor said that the additional public input and analytical time is looking to determine whether the proposed rule changes would meet its standards for preventing fraud and guaranteeing the trust of investors.
The cautious tone of the regulator suggests that, despite its rising fame, Solana can make a longer path to ETF approval than its predecessors.
Regulatory slowness
The delay comes in the midst of a broader regulatory bottleneck that influences various digital assets ETFs. The regulator has postponed decisions about various crypto -etfs in recent weeks and months. Nevertheless, optimism remains strong in the market.
Bloomberg analysts James Seyffart and Eric Balchunas have previously stated that they expect high chances of approval for most ETF applications, with the last green light that is expected somewhere in the second half of the year.
They estimate a probability of 90% of any approval for both Solana and Litecoin (LTC) ETFs, so that their optimism was attributed to favorable raw material classifications and increasing institutional importance.
With definitive decisions that may have been gone for months and wider policy uncertainty, however, investors can be forced to wait until the end of 2025 for clarity about whether Solana ETFs will reach the American markets.