SEC delays altcoin ETF: what does this mean for the market?

Today's news from the crypto market is not the most joyful. The SEC (Securities and Exchange Commission) announced a delay in decisions regarding multiple ETF applications related to major altcoins, including Solana (SOL) and Polygon (MATIC).

Although many market participants expected prompt approval, the regulator stated that it needs more time to study these financial instruments and assess risks for investors. This decision may exert short-term pressure on altcoin prices — the market's reaction is already evident.

Unlike the recently approved Bitcoin ETFs, altcoin-based products face more stringent scrutiny: the SEC is concerned about potential volatility, market manipulation, and the issue of whether tokens can be classified as securities.

On one hand, such actions by the SEC cause frustration among investors. On the other hand, this reflects a strategy of 'cautious engagement' between the crypto industry and traditional finance. Meanwhile, platforms like Binance and Coinbase continue to provide liquidity for altcoin trading — even without the involvement of ETFs.