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SEC delays Solana ETF as decisions for Polkadot, XRP loom

  • The U.S. SEC delayed its decision on approving the Grayscale Solana Trust ETF and opened public comment periods for related crypto ETFs as of May 2025.
  • The delay follows the SEC instituting proceedings to evaluate whether the proposed Solana ETF listing meets investor protection and legal standards amid ongoing policy questions.
  • The Grayscale Solana Trust would trade on NYSE Arca holding SOL, while on-chain data reveals whale investors actively accumulating Solana as adoption and institutional interest rise.
  • The SEC has invited written comments within 21 days and responses to those comments within 35 days, clarifying that the commencement of proceedings should not be interpreted as the commission having reached any determinations regarding the proposed rule change.
  • The Commission’s extended review and public feedback process could set precedents for crypto ETFs, influencing future product structures and market operations in the U.S.
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The Defiant broke the news in on Tuesday, May 13, 2025.
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