SEC delays Solana ETF as decisions for Polkadot, XRP loom

The US Securities and Exchange Commission (SEC) has pushed again its determination on a proposed spot Solana exchange-traded fund (ETF), with the cryptocurrency trade now trying to the deadlines for the Polkadot and XRP-based ETFs in June.

The SEC pushed its determination on itemizing Grayscale’s spot Solana (SOL) Trust ETF on the New York Stock Exchange (NYSE) to October 2025, based on a May 13 submitting by the securities regulator.

The determination got here the week after the SEC delayed its ruling on Canary Capital’s Litecoin (LTC) ETF, Bloomberg Intelligence analyst James Seyffart wrote in a May 5 X publish.

Spot ETFs are seen as key drivers of liquidity and institutional adoption for digital property. For Bitcoin (BTC), the US spot Bitcoin ETFs accounted for an estimated 75% of recent funding after launching, which helped BTC recapture the $50,000 mark in February 2024, a month after the ETFs debuted for buying and selling.

While a Solana ETF could generate solely a fraction of the inflows of Bitcoin ETFs, it may improve Solana’s institutional adoption in the long run by providing buyers a “regulated investment vehicle” which will nonetheless appeal to billions of {dollars} in capital, Ryan Lee, chief analyst at Bitget Research, instructed Cointelegraph.

Related: Solana co-founder proposes meta chain to repair blockchain fragmentation

Despite the most recent delay by the SEC, the vast majority of buyers are optimistic concerning the approval of a SOL ETF earlier than the tip of 2025.

Investors are predicting an 82% probability for a SOL ETF approval and an 80% probability for a Litecoin ETF approval earlier than the tip of the yr, based on information from Polymarket, the most important decentralized betting platform.

Related: $1B Bitcoin exits Coinbase in a day as analysts warn of provide shock

Polkadot, XRP, DOGE ETFs await SEC determination in June

Several different crypto ETF functions are approaching SEC deadlines in June.

The SEC will resolve on Grayscale’s Polkadot (DOT) ETF by June 11, and 21Shares’ Polkadot ETF on June 24, based on a court docket submitting from the SEC.

On June 17, the SEC is about to decide on Franklin Templeton’s spot XRP (XRP) ETF and Bitwise’s spot Dogecoin (DOGE) ETF, official filings present.

However, these decisions may be delayed. The SEC sometimes takes full benefit of its 240-day evaluate interval when evaluating crypto-related monetary merchandise, as seen in its dealing with of the Bitcoin and Ether (ETH) ETF functions in 2023 and 2024.

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