SEC postpones approval of Solana and Litecoin again, but why is the market "quiet"?
The U.S. Securities and Exchange Commission (SEC) recently postponed the approval of Solana and Litecoin ETFs submitted by Grayscale Investments again. This decision continues the agency's consistent cautious attitude towards cryptocurrency ETFs.
It is interesting to note that the market reacted relatively calmly to this. The prices of the two major tokens remained basically stable during this period, and did not fluctuate as expected. This abnormal calmness may imply that investors still have strong confidence in the final approval.
In the past few weeks, the SEC has been delaying cryptocurrency ETF applications, but delays do not necessarily mean rejections. The committee specifically stated in the document that this move is intended to collect more industry opinions rather than make a final conclusion. Market sentiment seems to confirm this statement. Just last week, after the news of the postponement of Litecoin ETF was announced, its price did not fall but rose, breaking the generally bearish market expectations.
It is particularly noteworthy that BlackRock, the world's largest asset management company, is still in close communication with the SEC on the ETF regulatory framework recently. This continuous interaction also makes analysts optimistic about the long-term approval prospects.
Despite the delay in ETF approval, the cryptocurrency industry still maintains a strong development momentum. Market participants have also gradually realized that the profitability of digital assets does not completely rely on the recognition of traditional financial instruments. As shown by the rapid adjustment of market expectations for interest rate cuts last week, cryptocurrencies seem to have established a relatively independent value system.
In short, the SEC's caution may temporarily delay the pace of the passage of copycat ETFs, but the wave of integration of blockchain and traditional finance is unstoppable. This deep-level industry change will surely break through the limitations of short-term supervision and create a new future for the digital asset industry.
What do you think of this wave of "delayed but not falling" market? Is it time to re-evaluate your crypto asset allocation strategy? Welcome to share your insights in the comment section!
