SEC delays Solana ETF as decisions for Polkadot, XRP loom

The US Securities and Exchange Commission (SEC) has pushed backmost its determination connected a projected spot Solana exchange-traded money (ETF), with the cryptocurrency manufacture present looking to the deadlines for the Polkadot and XRP-based ETFs successful June.

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

Delay connected Grayscale’s Solana ETF. Source: SEC

The determination came the week aft the SEC delayed its ruling connected Canary Capital’s Litecoin (LTC) ETF, Bloomberg Intelligence expert James Seyffart wrote successful a May 5 X post.

Source: James Seyffart

Spot ETFs are viewed arsenic cardinal drivers of liquidity and organization adoption for integer assets. For Bitcoin (BTC), the US spot Bitcoin ETFs accounted for an estimated 75% of caller investment aft launching, which helped BTC recapture the $50,000 people successful February 2024, a period aft the ETFs debuted for trading.

While a Solana ETF may only make a fraction of the inflows of Bitcoin ETFs, it could summation Solana’s organization adoption successful the agelong word by offering investors a “regulated concern vehicle” that whitethorn inactive pull billions of dollars successful capital, Ryan Lee, main expert astatine Bitget Research, told Cointelegraph.

Related: Solana co-founder proposes meta concatenation to hole blockchain fragmentation

Despite the latest hold by the SEC, the bulk of investors are optimistic astir the support of a SOL ETF earlier the extremity of 2025.

Odds of a Solana ETF approved by Dec. 31, 2025. Source: Polymarket

Investors are predicting an 82% accidental for a SOL ETF support and an 80% accidental for a Litecoin ETF support earlier the extremity of the year, according to information from Polymarket, the largest decentralized betting platform.

Related: $1B Bitcoin exits Coinbase successful a time arsenic analysts pass of proviso shock

Polkadot, XRP, DOGE ETFs await SEC determination successful June

Several different crypto ETF applications are approaching SEC deadlines successful June.

The SEC volition determine connected Grayscale’s Polkadot (DOT) ETF by June 11, and 21Shares’ Polkadot ETF connected June 24, according to a tribunal filing from the SEC.

On June 17, the SEC is acceptable to marque a determination connected Franklin Templeton’s spot XRP (XRP) ETF and Bitwise’s spot Dogecoin (DOGE) ETF, authoritative filings show.

However, those decisions whitethorn besides beryllium delayed. The SEC typically takes afloat vantage of its 240-day reappraisal play erstwhile evaluating crypto-related fiscal products, arsenic seen successful its handling of the Bitcoin and Ether (ETH) ETF applications successful 2023 and 2024.

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