SEC delays Solana ETF decision to October 2025, extending full review period.
XRP and Polkadot ETF rulings expected in June amid rising investor interest.
Polymarket shows 82% odds of Solana ETF approval by the end of 2025.
Grayscale’s proposal for a spot Solana ETF remains undecided as the US Securities and Exchange Commission postpones its judgment. An official filing from May 13th revealed the postponement, while the final decision is now anticipated for October 2025. The Solana ETF proposal for the New York Stock Exchange listing stood as one of the most awaited financial product announcements because of rising interest in altcoin-based investment options.
The delay comes just weeks after the SEC extended the review period for Canary Capital’s Litecoin ETF. These deferrals have drawn attention to other upcoming decisions involving Polkadot and XRP ETFs, which remain on the regulatory calendar for June. Market participants continue to monitor the SEC’s timelines closely, as investor interest in crypto ETFs expands beyond Bitcoin and Ethereum.
Growing Interest in Altcoin-Based ETFs
With Solana’s rising institutional appeal, many investors expected a quicker approval. Grayscale’s ETF aims to provide traditional market access to SOL through a regulated investment structure. However, the SEC has chosen to utilize its full review period. This decision aligns with the commission's consistent approach to crypto ETF applications over the past two years.
Despite the delay, optimism remains high. According to the decentralized prediction market Polymarket, the probability of Solana receiving ETF approval by the end of 2025 stands at 82%. Similarly, investors are showing confidence in Litecoin’s prospects, with 80% expecting its approval within the same timeframe.
Institutional demand for altcoin ETFs is increasing. Spot Bitcoin ETFs drove a sharp influx of capital following their launch, and industry analysts expect similar trends if ETFs tied to Solana or other major altcoins gain approval. A regulated product would offer new capital entry points while addressing compliance requirements for larger asset managers.
Upcoming Deadlines for XRP and Polkadot ETFs
The SEC is preparing for several major ETF decisions next month. On June 11, a ruling is due on Grayscale’s Polkadot ETF proposal. A second Polkadot application from 21Shares faces a June 24 deadline. The SEC will also rule on Franklin Templeton’s XRP ETF and Bitwise’s Dogecoin ETF on June 17.
While these dates remain on the calendar, the SEC has frequently taken the full 240-day period allowed under law before delivering a final decision. This cautious approach has been consistent across various digital asset ETF reviews since 2023.
Nevertheless, applicants and market observers remain focused on the June outcomes. These ETF proposals represent a broadening of the crypto ETF landscape. They also mark a potential shift in regulatory tolerance toward diversified crypto investment vehicles.
Market Sentiment Maintains Momentum
Despite ongoing SEC delays in making certain decisions, investor sentiment directed at altcoin ETFs continues to show strong optimism. Financial trends in Solana and similar assets demonstrate market anticipation of imminent approval.
For now, the focus turns to the upcoming decisions on Polkadot and XRP. Each outcome may offer further clarity on how the SEC is approaching altcoin ETF regulation in 2025.
