The US Securities and Exchange Commission (SEC) has returned its decision on a proposed Solana Exchange Fund (ETF), with the cryptocurrency industry watching the deadlines for the polkadot and XRP-based ETFs in June.
The SEC presented its decision on the list of Grayscale's Spot Solana (Sol) Trust ETF on the New York Stock Exchange (NYSE) until October 2025.
Delay of the Solana ETF from gruesome. Source: sec
The decision got here the week after the SEC moved its decision on the Litecoin (LTC) ETF from Canary Capital, the Bloomberg Intelligence -Analyst James Seyffart wrote in a post on May 5.
Spot ETFs are viewed as vital drivers for liquidity and institutional introduction of digital assets. For Bitcoin (BTC), the US Spot -Bitcoin -ETFs made up for 75% of the brand new investments after the beginning, which BTC recaptured in February 2024 a month after the debut of ETFs for trading at $ 50,000.
While a Solana ETF may only create a fraction of the inflows of Bitcoin ETFs, it could increase the institutional introduction of Solana in the long run by offering investors a “regulated investment area” that will still attract billions of dollars in capital, Ryan Lee, chiefefinalyst at Bitget Research, said CoinTelgraph.
Despite the recent delay by the SEC, the vast majority of investors are optimistic in regards to the approval of a SOL -ETF before the tip of 2025.
Investors predict a possibility of 82% for a SOL -ETF approval and a possibility of 80% for a Litecoin -ETF approval before the tip of the yr, in response to Polymarket, the biggest decentralized betting platform.
Polkadot, XRP, Doge ETFs are waiting for the SEC's decision in June
Several other crypto -ETF applications are approaching the SEC periods in June.
The SEC will settle on the Polkadot (DOT) -TF from Grayscale and the Polkadot -Tf from 21Shares on June twenty fourth by June 24, as was submitted from the Sec.
On June 17, the SEC will make a call about Franklin Templetons Spot XRP (XRP) ETF and Bitwise Spot Dogecoin (Doge) ETF.
However, these decisions can be delayed. As a rule, the SEC uses its 240-day check period when evaluating financial products in reference to crypto-related funds, as could be seen within the handling of Bitcoin and Ether (Eth)-TF applications in 2023 and 2024.
