SEC delays decision on Grayscale's Solana and Litecoin ETFs amid regulatory oversight.
Polymarket predicts an approval rate above 80%, suggesting a positive move.
With the return of Donald Trump to the White House, the outlook on cryptocurrencies has changed. Optimism has increased as voices in the industry expect to break free from the regulatory stranglehold of the Biden-Gensler era.
However, challenges remain, particularly in the ETF approval space.
SEC delays Grayscale's ETF proposal
The U.S. Securities and Exchange Commission recently extended the review period for Grayscale's Spot ETF applications for Solana [SOL] and Litecoin [LTC].
The agency stated that more time is needed to assess whether these applications meet investor protection standards and market integrity.
The review process is based on the Securities Act of 1934, often used to scrutinize novel financial products.
If approved, the ETF will help investors access Solana through traditional brokerage platforms.
A similar extension has been applied to Grayscale's Litecoin Trust, citing that the SEC needs more time to assess compliance with legal requirements and market structure.
Both applications currently face a lengthy review process, which may include multiple phases before a final decision is made.
This move comes after Bloomberg analyst Eric Balchunas noted the increasing concentration of cryptocurrency ETF applications, which now totals 72, highlighting the competitive race for regulatory approval in the digital asset investment space.
Trends and price action on Polymarket
Despite the delays, market sentiment remains unaffected. In fact, Polymarket's prediction rates remain optimistic.
As of the time of publication, the approval rate clearly indicates an 82% chance of the Solana ETF being approved by the end of 2025, with the Litecoin ETF closely following at 80%.
Interestingly, the price action of major altcoins also shows resilience, with Solana trading at $182.13 and Litecoin at $104.45, both recording significant gains in the past 24 hours.
Source: https://tintucbitcoin.com/sec-tam-dung-quy-solana-litecoin-ly-do-bat-ngo/
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