Fidelity’s plans to launch a Solana-based ETF have hit another regulatory hurdle. The U.S. Securities and Exchange Commission (SEC) has officially delayed the proposal, citing the need for a more complete regulatory framework for crypto ETFs.


📌 What happened?

The application by Cboe BZX Exchange to list the Solana ETF has entered a formal review phase. The SEC has called for public comments within 21 days and rebuttals within 35 days. However, experts agree that the chances of swift approval remain slim.


🧠 Why the delay wasn’t a surprise

Bloomberg ETF analyst James Seyffart described the delay as “entirely expected.” He noted that the SEC is still far from approving ETFs tied to altcoins, as there’s no unified rulebook. The lack of regulatory clarity continues to block new ETF offerings like Solana’s.

🛠️ SEC Rolls Out New Crypto ETF Guidelines

To address the uncertainty, the SEC has released updated guidance for future crypto ETF proposals. Under the new rules, asset managers must:

🔹 Clearly disclose investor risks

🔹 Explain custody structures

🔹 And define how crypto ETFs differ from traditional funds – all in plain English

The goal is to ensure transparency for both investors and regulators, especially for ETFs tied to lesser-known altcoins like Solana.

📉 When can approval be expected?

The SEC is also working on a second document that could significantly speed up the ETF approval process, potentially reducing the timeline from over 200 days to about 75 days.

Still, for now, the Solana ETF remains in regulatory limbo.


📊 It’s not just Fidelity waiting. ETF proposals tied to XRP, meme coins, and staking tokens have also been delayed. Meanwhile, some firms are exploring alternatives – like the REX-Osprey Sol + Staking fund, which offers indirect exposure to Solana and its staking rewards.




#solana , #sol , #etf , #SEC , #CryptoNews

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