The U.S. Securities and Exchange Commission (SEC) has just delayed its decision on the spot Solana ETF proposals from companies 21Shares, Bitwise, VanEck, and Canary Capital, causing a stir in the cryptocurrency market. Is this a sign of delay or a stepping stone to a major development phase?
Delayed Decision: More Time Needed for Evaluation
On Monday, #SEC announced an extension of the review period for the Solana price-based ETF proposals, citing the need for more time to analyze related legal and policy issues. The SEC emphasized that this delay does not reflect the likelihood of approving or rejecting the funds, while also calling for public input on the proposed regulatory changes. This move comes as the SEC is considering various ETF proposals based on different digital assets, from Solana – one of the blue-chip coins – to meme coins like Official Trump, Bonk, Dogecoin, and even NFTs like Pudgy Penguins.
The rise in these proposals stems from President Donald Trump's victory last November. The new administration has shown intentions to appoint crypto-friendly regulators and reform the ETF regulations, raising hopes for quick approval of crypto funds. However, reality is far from expectations.
Reality and Expectations: A Slow but Promising Process
Juan Leon, CFA of Bitwise Asset Management, warns that investment firms and clients should adjust their expectations. He stated, 'People think the SEC will approve as soon as they file, but the process doesn't work that way.' Leon explains that government agencies operate in a bureaucratic manner, causing the process to take longer than anticipated. Nevertheless, he is optimistic: 'There may be disappointment in the market, but we are witnessing a turning point in the regulatory race, and in the next 1-2 years, many products will launch.'
The SEC previously approved spot Bitcoin and Ethereum ETFs last year, paving the way for large institutional participation. With $SOL – currently at 146 USD and considered one of the promising blockchains – the delay in decision-making could be an opportunity for the SEC to build a more solid legal framework, rather than rushing.
Impact and Future Prospects
This delay occurs against the backdrop of a vibrant cryptocurrency market. Bitcoin (104,000 USD) is nearing its historical high of 109,000 USD, with crypto fund inflows reaching 3.4 billion USD last week and projected to accumulate 330 billion USD by 2029. Ethereum (2,500 USD) and altcoins like Solana are also expected to benefit from the ETF trend, if approved. The SEC's careful consideration could create long-term trust for investors, although it may cause short-term disappointment.
In the next 1-2 years, if the legal framework is clearer, #ETFSolana and other digital assets could expand the market, attracting more institutional capital. This will not only strengthen Solana's position but also drive the cryptocurrency ecosystem towards sustainable development.
Conclusion: Solana ETF – A Turning Point or a Challenge?
The SEC has delayed its decision on the Solana ETF from 21Shares, Bitwise, VanEck, and Canary Capital to further review legal and policy issues, not as a sign of rejection. Although the bureaucratic process may cause delays, this is an opportunity to build a solid foundation for cryptocurrency. With Solana's growth potential and support from the Trump administration, the market promises to break out in the long term, opening a bright future for investors.
Risk Warning: Investing in cryptocurrency carries high risks due to price volatility and legal uncertainty. Please consider carefully before participating. #anhbacong
